In today’s interconnected business landscape, organizations heavily rely on third-party vendors to support various aspects of their operations. However, concerns about cybersecurity and the potential risks associated with these partnerships have become increasingly prevalent. Our new collaborative report titled Balancing Third-Party Risk: How Good Is The Company You Keep? with RiskRecon delves into this critical issue, shedding light on the challenges organizations face in maintaining a secure cyber ecosystem while leveraging third-party technologies and tools.
53% of Firms Track 49 or Fewer Third Parties
Amidst the wealth of insights provided by the report, one statistic stands out as the top stat of the month: 53% of firms track 49 or fewer third parties. This finding underscores the significance of the vendor landscape and the impact it has on an organization’s overall risk exposure. As organizations increasingly rely on third parties, it becomes crucial to strike a balance between leveraging their capabilities and maintaining a secure cyber environment.
The report emphasizes the critical importance of striking a balance when it comes to leveraging third-party technologies and maintaining a secure cyber ecosystem. Organizations face the challenge of fulfilling their various business needs while ensuring that their risk exposure remains in check.
While vendors play a vital role in supporting organizational operations, it is crucial to recognize that their access to the digital ecosystem can introduce potential risks. To achieve a healthy balance, organizations must adopt effective risk management practices and gain a comprehensive understanding of the risks involved.
Achieving a healthy balance between the company you keep and your cybersecurity is crucial.
As organizations navigate the complex landscape of third-party risk, Balancing Third-Party Risk: How Good Is The Company You Keep? serves as a valuable resource. With its eye-opening insights and emphasis on the need for objective data and continuous risk monitoring, the report equips organizations with the knowledge and tools to strike a balance between leveraging third-party technologies and maintaining a secure cyber environment.
To explore the full findings and recommendations from the report, we encourage you to read the complete Balancing Third-Party Risk report from RiskRecon and Cyentia Institute. Gain a deeper understanding of the challenges, risks, and strategies associated with managing third-party relationships in today’s digital ecosystem.
Don’t miss this opportunity to gain valuable insights & empower your security operations.