Companies have long relied on rich networks of external parties like manufacturers, service providers, suppliers or consultants, to boost their overall operations and reap the benefits of outside expertise or offerings. But while these partnerships are usually mutually beneficial, companies also need to be aware of the potential risks posed by their third-party, and even fourth-party, vendors, and account for security across their entire supplier ecosystem. Unfortunately, 80% of companies fear they don’t have full visibility into the security posture of their third-party partners. This is an urgent pain point to address since vulnerabilities along any link in the supply chain can lead to devastating consequences, such as data breaches, steep fines, reputational damage, and more.
The SolarWinds hack of 2020 is a prime example, when nation-state hackers breached SolarWinds’ Orion system and launched a supply chain attack that infiltrated the networks, systems, and data of thousands of SolarWinds’ customers, including federal agencies. And while this specific attack was extremely sophisticated, supply chain weaknesses can stem from simple oversights or lax procedures,…
