According to a recent survey by security vendor Anchore, 64% of businesses were affected by a supply chain attack in the past 12 months, and this year supplier attacks are expected to quadruple according to the European Union Agency for Cybersecurity. Third-party breaches can result in severe financial losses, downtime, loss of sensitive information, loss of reputation, breach of compliance, fines, and other legal liabilities.
A well-orchestrated TPRM program can not only mitigate third-party cyber risks but also boost the ability to onboard, manage, and maintain third-party suppliers. Watch this expert panel as they discuss how to build a strong TPRM program, including how to:
- Establish the quality of data coming in, and keep your reporting flexible
- Create a central repository of all your third-party vendors
- Determine risk potential and “Tier” your exposure
- Develop a security scorecard and address risks in order of priority
- Continuously monitor, optimize, strengthen, and streamline