Create reliable third-party vendor management systems

Find out why you need a consistent third-party vendor management process and how you can establish one.

Get in touch

Create reliable third-party vendor management systems

Find out why you need a consistent third-party vendor management process and how you can establish one.

Get in touch
Image

What do you need for effective third-party vendor management?

Third-party cyber breaches are a growing problem. In 2020, over 53% of organizations experienced several data breaches via their partners and suppliers.

To prevent cyber breaches through your third parties, protect your data, and maximize ROI on vendor security, you need to invest in the best third-party vendor management practices. Here are some risk management practices you can adopt:
  • Create a risk profile for each vendor: Creating risk profiles can help you determine how safe and secure each vendor is.
  • Establish a risk and control framework: This helps you assess your vendor's actions and monitor your attack surface better.
  • Develop a remediation management plan: A remediation plan helps you react faster and reduce the regressive effect of a cyberattack.
  • Invest in ongoing vendor monitoring: This helps you monitor your vendor's infrastructure to ensure they meet security standards.

What do you need for effective third-party vendor management?

Third-party cyber breaches are a growing problem. In 2020, over 53% of organizations experienced several data breaches via their partners and suppliers.

To prevent cyber breaches through your third parties, protect your data, and maximize ROI on vendor security, you need to invest in the best third-party vendor management practices. Here are some risk management practices you can adopt:
  • Create a risk profile for each vendor: Creating risk profiles can help you determine how safe and secure each vendor is.
  • Establish a risk and control framework: This helps you assess your vendor's actions and monitor your attack surface better.
  • Develop a remediation management plan: A remediation plan helps you react faster and reduce the regressive effect of a cyberattack.
  • Invest in ongoing vendor monitoring: This helps you monitor your vendor's infrastructure to ensure they meet security standards.

How our free demo can helpg

  • Security Ratings - Use our risk-rating solution to get a holistic view of your cybersecurity.

  • Discover - Quickly discover vulnerabilities and software bugs in your infrastructure.

  • Extend - Expand cybersecurity to include vendor-risk management and remote devices.

  • Access - Access valuable cybersecurity data and report in a UX-friendly framework.

How to establish a consistent third-party vendor management approach

To create a reliable and consistent third-party vendor management process, you need to consider the following.
Automate vendor risk management:
Helps you detect anomalies and respond rapidly to cyber attacks.
Take a 360-degree approach to management:

Helps prevent data breaches and identify critical
security issues.

Compile an intelligent inventory of
your assets:

Reduces your attack surface and effectively enforce
security policies.

Assess your vendor’s security standards
regularly:

Prevent third-party cyberattacks to ensure security standards don’t fall.
Get a free demo

Brands on the RiskXchange platform

Slide
Slide 2
Slide 2
previous arrowprevious arrow
next arrownext arrow

What our clients have to say about us

Find out what our clients have to say about our cybersecurity products.

“We are thrilled with the RiskXchange solution. Ensuring that our third-party supply chain is secure is of paramount importance to us and whereas it used to take weeks and in some cases months to complete lengthy third-party vendor assessments, it now takes us hours. The RiskXchange platform has helped us to streamline the process, saving valuable time and money, which we can re-invest into helping people in need.

The Automated Security Ratings and Assessments solution that RiskXchange provides helps us facilitate sometimes tricky security analysis with our suppliers, making it an integral part of our vendor risk management program.”
Miguel Fiallos, CIO at the Salvation Army
“RiskXchange enables us to gain enterprise-level insight into our cyber security risk and identify areas for remediation. We were able to rapidly implement and configure the RiskXchange platform and establish essential policies and procedures as the foundation of a greatly improved cyber security posture.”
Alain Cain, Head of Information Security at Rail Delivery Group.

Get in touch with us for more information.

Image