The security trends transforming vendor risk management

Third-party data breaches continue to grow at an alarming rate. A survey conducted by the SecureLink and Ponemon Institute revealed that over 44% of organisations suffered a third-party breach in the past 12 months. Out of the organisations that suffered a breach, 74% said that the cause was access given to third parties.  The growing incidences of third-party breaches explain … Read More

Third-party vendor management best practices for your security posture

Third-party vendor management

Businesses, today, are no longer singular entities that operate in silo; regardless of the size and scale of operations, almost every organisation depends on various third parties to carry out their activities without disruption. This has also meant that to really benefit from outsourcing or specialisation, procurement teams have had to transfer a significant degree of control and accessibility to … Read More

How to ensure vendor security in a hybrid working environment

vendor security in a hybrid working environment

RiskXchange provides full visibility over your ecosystem’s entire attack surface in near real-time. The pandemic has seen our lives shift from the office to home, bringing new nightmares for IT security heads. The work-from-home culture has created new challenges for businesses as they see their attack surface expand and their cybersecurity needs intensify.  According to the World Economic Forum’s Global Risk Report, in 2020, cybercrime doubled … Read More

The role of CISOs in mitigating supply chain cyber risk

Supply chain cyber risk

RiskXchange is a respected provider of cybersecurity ratings and can fully assess potential threats to ensure businesses are protected on all fronts.  CISOs (Chief Information Security Officer) are crucial when it comes to mitigating supply chain cyber risk in any medium to large-sized organisation. The infamous 2020 SolarWinds attack underlined the need for CISOs to adopt tighter security measures within corporations right … Read More

Understanding how procurement risk ties in with third-party risk

RiskXchange is a respected provider of cybersecurity ratings and can fully assess third-party risk factors. Third-party risk is the potential threat that arises from organisations relying on third parties to perform activities or business services on their behalf. Risk can be evident in many different ways, from threat to an organisations’ customer and employee data, to financial information and overall operations. … Read More

Managing third-party risks: What role does security technology solutions play?

Managing third-party risks What role does security technology solutions play

For improved profitability, a competitive advantage, and lower enterprise expenditure, plenty of businesses work closely with external vendors. Third-party relationships, however, comprise several threats, including strategic, reputational, regulatory, information security, and financial risks. In this context, financial penalties and reputational damage as a result of non-compliance, supply chain disruptions, security breaches, and data theft involving third parties are driving companies … Read More

WEBINAR ANNOUNCEMENT: Enhancing your third-party risk management strategy

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 … Read More

The 3 Main Digital Supply Chain Risk Management Strategies to Consider

The 3 Main Digital Supply Chain Risk Management Strategies to Consider

RiskXchange provides a powerful AI-assisted, yet simple automated and centralised unique 360-degree cybersecurity risk rating management approach. Most businesses are always in the process of digital transformation – technology is updating, changing, and evolving daily so it is important to adapt with it. The “latest” challenge presents itself in the guise of cloud services which yield a great deal of … Read More

What can happen if you don’t prioritise vendor risk management

RiskXchange’s VRM framework can easily identify and mitigate third-party risk factors. Vendor risk management (VRM) is the process of dealing with monitoring and managing risks that may arise from third-party vendors and suppliers of information technology (IT) products and services. VRM programs are designed to ensure that third-party products, IT service providers and vendors cannot cause business disruption or repetitional … Read More