Vendor Risk Management: Ten Frequently Asked Questions

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12
Next Vendor Risk Management: Ten Frequently Asked Questions-8 Next

Contacts

Who should my main contact be with my vendor?

You should expect to have one individual at your vendor's company who is in charge of managing the risk to your organization's data. This person should be your point of contact if there is ever a problem and should be able to easily obtain relevant and important information at any point. He or she could be a lawyer, an IT security person, the chief information officer, or any number of people depending on how the company has decided to organize itself. You should be able to rely on this person to get all of the appropriate people together should a problem ever occur. This person should have specific insights into IT operations, security components, and elements of your contract.

As cyber threats become more sophisticated and complex, businesses need not only to ensure they are secure, but that their vital partners, suppliers and vendors are protecting themselves as well. According to the 2015 Verizon DBIR, 70 percent of observed cyber attacks involved a secondary victim. To avoid being blindsided, organizations are beginning to monitor the security of their third parties to reduce the likelihood of a data breach.

Gartner estimates that around 10 percent of companies have formalized IT risk management programs, but that the figure will grow to 40 percent by 2018. If you're just beginning to implement a vendor risk management (VRM) program, BitSight Technologies has identified 10 frequently asked questions to help you get started.

 

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

 
More Slideshows

IT security skills 7 Top Skills for Security Pros

Executives at several top tech firms outline the skills they need now and in the near future, including IaaS and IoT security expertise. Other skills listed may surprise you. ...  More >>

IT security careers The Most In-Demand Security Jobs and How to Get Them

Security professionals are in demand right now, and entry-level security jobs generally fall into either an engineer or analyst role. Find out more about required skills and career paths. ...  More >>

142x105itbeusasecurity2.jpg 9 Predictions for Cybersecurity’s Role in Government and Politics in 2017

Experts predict how cybersecurity will affect and involve our government, policies and politics in 2017. ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.