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.