Checklist: Create a Business Case for Cybersecurity Risk Ratings

Third-Party Risk Management Resources

Checklist: Create a Business Case for Cybersecurity Risk Ratings

According to Forrester Research, global security decision-makers that reported a cybersecurity breach within a 12-month span increased from 50% in 2019 to 63% in 2022. This steady rise marks an uninterrupted business need to accurately assess cybersecurity risks and reconstruct public confidence and trust after a breach. In response, security firms continue to invent cutting-edge technology that refines detection rates, improves response times, and prevents the spread of detected malware. But as modern cyber defenses shift focus to proactively identifying and preventing cybersecurity threats within an organization even before a breach, businesses also have the opportunity and the responsibility to evolve their cyber risk management a step further and fortify their network of partnerships and vendors.

This checklist is designed to help readers develop a custom ROI assessment for a third-party risk management solution in seven steps.

GO BEYOND SECURITY RATINGS

Protect your digital assets

You rely on your third- and fourth-party vendors to do business, but those vendors also pose risk to your enterprise’s sensitive data. RiskRecon gives you accurate, non-invasive visibility into your vendors’ security postures and then ranks vulnerabilities in order of priority so you know which issues to tackle first.

With our third-party cyber risk assessments, you’ll also be provided with custom-fitted risk action plans so you can immediately start engaging with your vendor for remediation. And if a vendor’s cyber risk degrades or an element falls out of policy, you’ll be notified instantly.