To serve your customers and realize efficiencies, your organization may work with dozens if not hundreds of third parties including partners, vendors, cloud service providers, and subcontractors.
But digital ties with these providers greatly increase your organization’s exposure to cybersecurity attacks. Flaws in a third party services provider’s security defenses and practices – like those that triggered the SolarWinds hack – can put your data, systems, and networks in danger, even if your own security operations are relatively robust. In fact, a study by Opinion Matters found that 92% of U.S. organizations have experienced breaches that originated with vendors.
Let’s look at four ways you can effectively monitor third party services for cyber risk – across the life of your contracts.