According to a recent Gartner report, the median organization contracts with 5,000 third parties. Working with vendors provides obvious benefits, but organizations must also be attentive to the potential risks they bring.
With increasing dependence on third parties in today’s interconnected world, vendor security risk assessments
are more essential than ever. Failing to do them may result in hefty regulatory fines, legal fees, lost business
and reputational damage. Given how important these assessments are, how can the process be implemented
Automation is the key to rapid and comprehensive third-party cyber risk reduction.
We recommend following these seven key steps to learn how this can be accomplished.