10 Best Practices for Sharing Sensitive Information with Vendors

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Do Understand the Value of Your Data

Do understand the value of the data to your organization prior to allowing any third party to access it. Being able to differentiate data that is highly sensitive from data that is only moderately sensitive is an important step — and you'll need to be able to draw those conclusions before a vendor has access.

Deloitte published a report recently, noting that "the market is currently underinvested in the area of vendor management, particularly when it comes to tools, methods and processes." This same report also noted that businesses are increasingly outsourcing functions. As vendors have become more important in the day-to-day functioning of businesses, companies need to ensure that their data is safe on these third-party networks.

For organizations that are just getting started with a formalized vendor risk management (VRM) program, BitSight Technologies has prepared a list of the do's and don'ts of sharing sensitive information with vendors.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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