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10 Best Practices for Sharing Sensitive Information with Vendors

  • 10 Best Practices for Sharing Sensitive Information with Vendors-

    Don't Let Everyone Have Access to Your Data

    Don't let everyone in the third-party organization — or your organization — have access to your data. This is a pretty simple, but important concept. Your organization should clearly establish which individuals at a vendor company have access to your data. Consider putting controls in place to help guard entry to your data, so it isn't easily accessible. Privileged information should only be available for a select few individuals who need access for a very good reason.

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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-9

    Don't Let Everyone Have Access to Your Data

    Don't let everyone in the third-party organization — or your organization — have access to your data. This is a pretty simple, but important concept. Your organization should clearly establish which individuals at a vendor company have access to your data. Consider putting controls in place to help guard entry to your data, so it isn't easily accessible. Privileged information should only be available for a select few individuals who need access for a very good reason.

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.