Any organization that fails to take into consideration supply chain cybersecurity threats is putting itself at great risk. The fact is, a company can be impacted by incidents that emerge from virtually anywhere within the chain. That’s why third-party risk management has become so important.
Managing third-party risk involves identifying and mitigating risks to an organization from external business partners, including suppliers, vendors, service providers, consultants, and contractors. As part of the process, organizations need to understand the risk profile not only of their direct business partners but also of the companies those partners are doing business with.
