Security News > 2022 > September > Your vendors are likely your biggest cybersecurity risk

With organizations expanding their vendor base, there is a critical need for holistic third-party risk management and comprehensive cybersecurity measures to assess how much risk vendors pose.

While organizations assess and manage risk on a multitude of layers, none present bigger threats to business resiliency than third-party risk and a lack of robust cybersecurity controls.

Businesses need to be able to tackle these risk vectors individually to gain a complete view of their risk profile.

A cross-functional approach to TPRM and cybersecurity reduces duplicative work and lends deeper insight into enterprise risk for your organization, your vendors, and your partners.

The organization should understand that cybersecurity priorities function to identify the regulatory standards and controls that vendors are held to in TPRM. Organizations that integrate these two approaches take the two functions out of a silo to reduce overlap in workflow processing, reporting, and risk decision-making.

Prospective vendors should only be selected and onboarded if their cybersecurity practices align with your organization's policies, and they should be stratified based on the level of risk they pose to your organization.

News URL

https://www.helpnetsecurity.com/2022/09/05/vendors-cybersecurity-risk/