Managing risk through effective assessment, identification, and monitoring

Third parties represent a significant cyber security risk.  74 percent of organizations say they had experienced a cybersecurity breach in the previous 12 months because they gave “too much privileged access” to third parties.

Not only are their numbers increasing year on year (with 60% of companies having more than 1000 third parties), but they also broaden a business’s potential attack surface, often have less stringent cyber security measures in place and can be seen as a softer target by cyber criminals.

Despite this risk, many organizations are unaware of the number of third parties they have exposure to, the nature of the cyber security measures in place with their partners and an ability to monitor threats across their full attack surface.

With that in mind, All Access Third Party Risk Management 2023 will be focus on:

• Identification: ensuring you are aware of all the third parties risks you are exposed to through effective asset discovery
• Assessment: strategies and tools for assessing the cyber security capabilities of your third parties
• Categorization: ranking and prioritizing the third parties who pose the greatest risk to your cyber security
• Monitoring: how to monitor the risks associated with your third parties in real time
• Compliance: identifying and adhering to necessary compliance requirements with your third party providers
• Artificial intelligence: leveraging AI to identify and address third party risk at scale