From Trust to Security

Third-party Risk Management Strategies and Challenges

Running an enterprise IT operation in the 21st century requires effective management of third-party operators. Third-party partners maintain their own policies and vulnerabilities, which can open the door to disaster.

This CyberRisk Alliance survey report highlights the critical importance of managing third-party risk in today’s enterprise IT landscape. Effective data security is not solely an internal matter; it extends to the policies and practices of third-party partners. 

Enterprises must prioritize gaining clear visibility into how their data is accessed and handled by these partners. Get your free copy to gain valuable insights, such as:

• Network defenders lack clear and cohesive insight. Organizations have become spread to the point where maintaining a clear inventory of third-party partners ranges from difficult to impossible in most cases.
• Third parties remain a primary risk for data breaches. The overwhelming majority of data breach incidents came from third-party sources such as partners and service providers. The inability to control how data is handled by outside partners continues to be a glaring weakness.
• Verification and trust continue to be challenging. Nearly half of those surveyed say that their organization does not conduct in-depth risk assessments of their partner organizations.
• Investment in third-party security is being overlooked. Just 13% of those surveyed say that their organization is making a significant investment in third-party security, and more than 40% say little to no budget is being allocated to the field.

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