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10 Best Practices for Sharing Sensitive Information with Vendors

  • 10 Best Practices for Sharing Sensitive Information with Vendors-

    Do Share Only the Minimum Information Required

    Do share only the minimum information required for your vendor to meet your objectives. If, for example, your vendor will be monitoring your HVAC system remotely, you'll want to ensure that they only have access to the part of your network that controls HVACs, and virtually nothing more. Such access management could have saved Target from its massive, highly publicized breach that affected the personal information of over 110 million customers.

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10 Best Practices for Sharing Sensitive Information with Vendors

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  • 10 Best Practices for Sharing Sensitive Information with Vendors-5

    Do Share Only the Minimum Information Required

    Do share only the minimum information required for your vendor to meet your objectives. If, for example, your vendor will be monitoring your HVAC system remotely, you'll want to ensure that they only have access to the part of your network that controls HVACs, and virtually nothing more. Such access management could have saved Target from its massive, highly publicized breach that affected the personal information of over 110 million customers.

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.