Are You Really Reducing Your Third Party Cyber Risk? Delivering both effective risk assessment and remediation within Third Party Risk Management programs is a constant challenge. Focus is naturally placed on assessing and monitoring higher-tier suppliers and more valuable relationships, but at what cost? Are organisation spending too much time and effort on cyber risk…
LEARN MOREThe Emerging Importance of ESG-Related Risk Environmental, social, and governance (ESG) and its role in vendor risk management have gained prominence this past year as the awareness for environmental and social issues grows. ESG helps examine how an organisation contributes to and performs on environmental, social, and ethical challenges, and the overall governance of the organisation. ESG touches on issues ranging from human…
LEARN MORETo better protect organisation’s in today’s cyber landscape, a seemingly infinite number of cybersecurity best practices and recommendations have evolved into more formal industry-wide frameworks and regulations. While some organisations have found themselves ahead of the curve, new policies create an obstacle for many, especially those ill-prepared for digitisation in the first place. Too many companies…
LEARN MOREAccording to a recent BlueVoyant, Opinion Matters global study of 1,500 CISOs, CIOs, and CPOs, 29 percent say they have no way of knowing if cyber risk emerges in a third-party vendor; and only 22.5 percent say they monitor their entire supply chain. Without this key insight into their vendors, it’s no wonder that CISOs…
LEARN MORESupply chain sovereignty depends on a high degree of visibility in order to identify critical dependencies and then apply a consistent set of principles for monitoring of parallel (redundant) processes and other elements required for resilience across both inbound and outbound supply chains. How to accomplish this remains a nagging question at the practitioner level….
LEARN MOREProcessUnity has today introduced ProcessUnity VRM Essential Edition, a new version of its flagship vendor risk management software aimed at helping smaller organisations identify and remediate risks posed by third-party service providers. This newest offering combines ProcessUnity’s award-winning automation tools with a complete baseline program that automates vendor onboarding, due diligence and ongoing monitoring. “Small and medium-sized…
LEARN MORELast month, the cybersecurity industry faced its latest major attack through a third-party IT management software company, SolarWinds. This breach reinforces the fragility of not only the software supply chain, but the entire third-party vendor ecosystem. As more information comes to the surface about the true depth and breadth of the breach, it is glaringly…
LEARN MOREAutomating Supply Chain Risk Incident Actions and Response Many companies are increasing risk budgets in response to COVID-19’s wide-scale disruptions in 2020 and expanding their Risk Intelligence programs. Unfortunately, many widely used third-party risk management practices such as point-in-time assessments and one-time health reviews were ineffective as the situation and risks continued to change and…
LEARN MORENew report reveals leaked credentials, legacy systems and vendor vulnerabilities as greatest sources of cyber risk for Credit Unions. Cybersecurity vulnerabilities among credit unions and their vendors create the potential for large financial impacts to the credit union industry, according to the 2021 Third-Party Risk Pulse: Credit Unions and Vendor Ecosystems report released by Black Kite today. The research analysed…
LEARN MOREWith the rollout of vaccination programs, many companies are now putting together their post-pandemic Return to the Workplace (RTW) plans. While executives are busy discussing theories, approaches and concerns for a smooth return to the workplace, I believe there’s something they haven’t spent enough time considering, and that’s the human factor. How do employees feel…
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