In today’s world, organizations must be extremely conscientious about their vendors. It is just as important to be aware about the security of third-party networks as it is to be aware of their own. In April 2017, Netflix’s new season of the hit show “Orange is the New Black” was stolen and leaked after they ignored several ransom requests by a hacker. The agent was able to breach Larson Studios, a third party postproduction company for Netflix. It’s critical that organizations have a vendor risk management (VRM) program in place to address the risk posed by third parties. As outsourcing and the use of cloud services continues to grow, it’s even more crucial that the strategy can scale to meet the rising demands to increase the number of vendors. This is where many companies are falling short today.
Article Link: https://www.bitsighttech.com/blog/how-can-existing-vendor-risk-management-programs-efficiently-scale-meet-current-demand