Most Companies Don’t Properly Manage Third-Party Cyber Risk

It’s been established that good cybersecurity requires not just an internal assessment of an organization’s own security practices, but also a close look at the security of the partners that businesses rely upon in today’s modern, interconnected world. As such, developing a Third-Party Cyber Risk Management (TPCRM) strategy is becoming more common with every news headline regarding a major breach that stemmed from a company’s relationship with a third-party.

There are several different approaches to TPCRM strategies on the market today. While the goals are the same, it is important for organizations to create a program that allows them to execute on actionable insight, meaning the insights and value provided should result in informed decision making that reduces risk for the lead organization and for the third party that posed it.

Read the Full Article