80% of organizations experienced a cybersecurity breach that originated from vulnerabilities in their vendor ecosystem in the past 12 months, and the average organization had been breached in this way 2.7 times, according to a BlueVoyant survey.
The research also found organizations are experiencing multiple pain points across their cyber risk management program as they aim to mitigate risk across a network that typically encompasses 1409 vendors.
The study was conducted by Opinion Matters and recorded the views and experiences of 1505 CIOs, CISOs and Chief Procurement Officers in organizations with more than 1000 employees across a range of vertical sectors including business and professional services, financial services, healthcare and pharmaceutical, manufacturing, utilities and energy. It covered five countries: USA, UK, Mexico, Switzerland and Singapore.
Third-party cyber risk budgets and other key findings
- 29% say they have no way of knowing if cyber risk emerges in a third-party vendor
- 22.5% monitor their entire supply chain
- 32% only re-assess and report their vendor’s cyber risk position either six-monthly or less frequently
- The average headcount in…
