According to The State of Third-Party Risk Management, 2024, a report by #Forrester released in August, organizations have reported that concerns about other enterprise risks are diverting attention from the urgent need to address third-party risk management (TPRM). To underscore this point, the report reveals that only 8% of respondents cited third-party risk as a top priority – the lowest percentage among the 18 risk types surveyed. But why is third-party risk so critical today? The Cyber Outlook Report 2024 from the World Economic Forum shows that 41% of organizations that suffered cyberattacks reported that the primary target was one of their third-parties. This underscores the growing threat, as cybercriminals are increasingly targeting third parties with weaker cybersecurity practices, making them an easier entry point for attacks. At Tenchi Security, we believe that the best way to manage these risks is through a collaborative approach, fostering a strong partnership between Organizations and their third-parties with a shared goal: a more secure supply chain. Our SaaS solution, #Zanshin, provides unprecedented visibility and systematically reduces third-party cyber risk in a continuous and comprehensive manner. Through Zanshin, our Risk Remediation team works directly with third-parties to guide them and resolve vulnerabilities. Find out a little more about this innovative solution on the linked video below! https://lnkd.in/dDMa5bCV #TPCRM #cybersecurity link for the cited research: https://abrir.link/ahdmq
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🔍 Addressing Security Blind Spots with Third-Party Risk Management 🔍 In today’s interconnected landscape, third-party partnerships are essential Effective third-party risk management (TPRM) can bridge these gaps by: Identifying Risks: Conduct thorough assessments to uncover potential vulnerabilities. Enhancing Transparency: Foster open communication to understand their security practices. Implementing Strong Controls: Develop robust policies and controls to mitigate identified risks. Continuous Monitoring: Regularly review and assess to adapt to evolving threats. Synchronize IT Solutions can assist with safeguarding your assets, protect your reputation, and building stronger, more secure partnerships. Let’s turn those blind spots into bright spots! 💡 #RiskManagement #CyberSecurity #ThirdPartyRisk #DataProtection #SecurityStrategy
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The Cyber-Enterprise Risk Management Community of Interest (Cyber-ERM COI) is leading the charge on integrating ERM and cybersecurity practices. Comprised of 175 members from 53 federal agencies, the Cyber-ERM COI brings together federal ERM and IT practitioners to bridge communication between agency-level ERM and cybersecurity risk management functions. The Cyber-ERM COI enhances strategic decision-making across federal agencies by embedding cybersecurity risk management into the core of governmental operations, thereby improving the U.S. Government’s ability to respond to a dynamic and evolving cyber threat landscape with resilience and confidence. Click here to learn more about the Cyber-ERM COI: https://lnkd.in/eb-wfmvy
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How do you couple #CRM capabilities with your offering-specific needs? Deloitte is recognized as a Leader for Cybersecurity Risk Management Services 2023 by @IDC MarketScape. Check out the excerpt.
IDC MarketScape: Worldwide Cybersecurity Risk Management Services 2023 Vendor Assessment
deloitte.com
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How do you couple #CRM capabilities with your offering-specific needs? Deloitte is recognized as a Leader for Cybersecurity Risk Management Services 2023 by @IDC MarketScape. Check out the excerpt.
IDC MarketScape: Worldwide Cybersecurity Risk Management Services 2023 Vendor Assessment
deloitte.com
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How do you couple #CRM capabilities with your offering-specific needs? Deloitte is recognized as a Leader for Cybersecurity Risk Management Services 2023 by @IDC MarketScape. Check out the excerpt.
IDC MarketScape: Worldwide Cybersecurity Risk Management Services 2023 Vendor Assessment
deloitte.com
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Head to Bridgepoint’s latest case study to learn how our risk team supported a client through a series of cybersecurity assessments to help them improve their approach to risk management. #NIST #NISTassessment #NISTframework #NISTcompliance #ITsecurity #ITcompliance #cybersecurity #cybersecurityassessment #ITassessment #ITrisk https://lnkd.in/geyG5iF3
Manufacturing Company Completes Roadmap Towards Compliance after Conducting NIST SP 800-171 & Cyber Essentials Risk Assessments
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Avid Tech Sales Specialist | Cybersecurity & Data Solutions | CompTIA Security+ [in progress]
The Governance, Risk, and Compliance (GRC) model provides an integrated framework for managing an organization’s overarching security, risk, and compliance goals: Governance involves setting policies and objectives that guide business practices and regulatory adherence. Risk Management identifies, assesses, and mitigates risks that could impact the organization’s objectives, from cybersecurity threats to operational risks. Compliance ensures the organization adheres to industry regulations, internal policies, and legal requirements. Together, GRC streamlines decision-making, reduces redundancies, and builds a resilient organizational structure. #GovernanceRiskCompliance #Cybersecurity #CorporateGovernance #RiskAssessment #CyberResilience #DataProtection
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Why has Deloitte been recognized as a Leader in the @IDC MarketScape: Cybersecurity Risk Management Services 2023 Vendor Assessment? See the excerpt.
IDC MarketScape: Worldwide Cybersecurity Risk Management Services 2023 Vendor Assessment
deloitte.com
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Cleared Solutions Engineer | CISSP | IT/OT Security | Cyclist | Tech Enthusiast | Navy Veteran
Preparing for the future of Cyber Risk Management: An examination of trends that will define 2024 and the years to come. Discover how recent occurrences are affecting the confidence of security leaders.
The State of Cyber Risk Management
extrahop.com
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Cybersecurity GRC Analyst|Compliance Analyst|Optimizing Governance Risk and Compliance strategies for organizational success|NIST 800-53| ISO 27001|ISC2 CC|Cybergirl Alumna|WiCyS member| Pharmacist
Day 22 of #100daysofcybersecurity Today I learned about some of the benefits of third party risk management and they include the following 🌸Low cost : It costs you money (and time) upfront but saves you money over the long term. An effective third-party risk management strategy can help to reduce the risk of a data breach. 🌸Regulatory compliance: Third-party management is an important component of many regulatory requirements such as FISMA, and the NIST Cybersecurity Framework. Third-party risk management is now part of industry standards in most sectors, and abiding by the standards is necessary . 🌸Lowers Risk: Performing due diligence streamlines the vendor onboarding process and reduces the risk of third-party security breaches and data leaks. Also , vendors must be reviewed continuously over their lifecycle as new security risks can be introduced over time. 🌸Knowledge and confidence: Third-party risk management expandes ones knowledge and visibility into the third-party vendors and improves decision-making across all stages, from initial assessment to offboarding. #30daysaoflearningwithodinaka #tprm #100daysofcubersecurity #100daysoflearning
