‘Vendor Risk Management’ is more than just a buzzword in the information security and compliance landscape. It’s a crucial aspect that can make or break your organization’s security. Consider this: 98% of organizations have had vendor relationships with at least one-third party experiencing a breach in the last two years. This statistic underscores the importance of security controls and effective vendor risk management.
However, what it doesn’t quite emulate is that vendor risk management isn’t just a quick box to tick off your infosec to-do list. In fact, it’s a continuous practice that should be knitted into the very fabric of your organizational DNA. But as with all things, doing it right requires some time, the right tools and compliance experts by your side. That’s us, by the way!
Understanding Vendor Risk Management
Running a modern-day business is almost impossible without collaborating with third-party vendors. Whether it’s to reduce costs or create more streamlined business processes – organizations often have an array of vendors connected to their company. However, this doesn’t come without its fair share of risk. Your organization may be…
