According to research conducted by Opinion Matters, companies in the UK seem to have the lowest visibility over supply chain vulnerabilities, compared to countries like the US, Mexico, Switzerland, and Singapore.
In its results published last month, we now know that around 82% of organisations that took part in the survey from the UK experienced a cybersecurity breach originating from vulnerabilities in their vendor ecosystem in the past 12 months.
The study also revealed that, on average, companies at home are breached around 2.6 times, given the numerous challenges they face across their supply chain ecosystem. These companies typically have over 1000 vendors.
In this context, what role does a third-party risk management framework play in boosting overall cybersecurity? Can the right risk management framework for your supply chain help you make more data-driven security decisions?
At our upcoming webinar, we help you avoid third-party risks through the latest best practices and tools, and help you understand how this can help you make better security decisions.
Understand the latest third-party risk management best practices
It’s important to look into what new processes can help a company determine the overall eligibility of a vendor and how they can keep company information secure. More often than not, companies neglect to update their processes and rely solely on past strategies.
All cybersecurity strategies have an expiry date. This is because they are relevant until they are redundant or ineffective in the face of evolving cyber threats and threat actors.
While enterprise-level security software may come with self-updating technology, where they expand their scanning and defensive capabilities to anticipate new threat patterns and vulnerabilities, this is not all it takes to set the right third-party risk management framework.
In our webinar, we explore best practices for your supplier management strategy including compliance, penetration testing, tracking and monitoring, and enterprise education.
Explore the latest supply-side security tech
Third-party risk management technology is leveraged to catalogue, classify, and track all vendor relationships, mitigate risks across all stages of the third-party lifecycle, and defend against cyberattacks that originate from vulnerabilities inherent to vendor business systems.
These benefits largely depend on the size, functionality, geography, and vertical market focus of the vendors you’re connected with. It also depends on the tools or tech you’ve invested in; a subject our webinar co-hosts will explore in line with their experience in the UK’s security space.
Our webinar co-hosts—CEO and founder of RiskXchange, Darren Craig, together with Alan Cain, the Head of Information Security at Rail Delivery Group—will combine their insights and experiences to discuss the latest tech and best practices that can mitigate third-party risks.
Sign up for our webinar to understand how to execute the right third-party risk management framework
At our webinar, we will discuss how a robust third-party risk management framework can help you make better cybersecurity decisions, regardless of the size, functionality, and location of your third-party vendors.
Join us on the 17th of November, 2020, at 4:00 PM BST, to understand the best ways to improve the efficiency and efficacy of your vendor risk management framework.