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10 Best Practices for Sharing Sensitive Information with Vendors

  • 10 Best Practices for Sharing Sensitive Information with Vendors-

    Do Create Security Expectations

    Do create security expectations for your vendors, describing how they should secure your data. These expectations shouldn't be casually mentioned at the beginning of a business relationship, but rather cemented into your vendor contract. Make these expectations legally airtight, so your mind — and the minds of those in upper management — can rest at ease.

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10 Best Practices for Sharing Sensitive Information with Vendors

  • 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13
  • 10 Best Practices for Sharing Sensitive Information with Vendors-3

    Do Create Security Expectations

    Do create security expectations for your vendors, describing how they should secure your data. These expectations shouldn't be casually mentioned at the beginning of a business relationship, but rather cemented into your vendor contract. Make these expectations legally airtight, so your mind — and the minds of those in upper management — can rest at ease.

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.