Building an effective Vendor Risk Management program is critical to securing your organization! According to the latest Data Breach Investigation Report by Verizon, 62% of system intrusions came through a third party (vendors, suppliers, and contractors). CrowdStrike found that a majority of organizations are losing trust in vendors due to frequent security incidents, yet only 36% were capable of vetting new and existing vendors in the last 12 months.
Many third-party risk management teams are facing resource constraints that prevent adequate vendor due diligence. Taking the proper steps to build a program can create efficiencies and help reduce the workload to ensure the proper assessment of vendors.
Our Building a Vendor Risk Management Program eBook can provide suggestions and tips on how to increase efficiencies in this critical area. We hope that you find it useful!
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