parties (2)

In today’s hyper-connected digital age, it’s not unusual for medium to large-sized companies to have hundreds, or even thousands, of third-party suppliers.

This can range from product suppliers, to billing processors, to cloud providers, and a variety of different services.

This large volume of suppliers can pose a challenge for Chief Security Information Officers (CISO) to properly manage risk, especially when personal or confidential data is shared.

A Risky Misconception – Understanding Supplier

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Not so long ago, the idea of outsourcing critical business functions or IT systems to a third party supplier would have been off limits for many organisations because of the level of risk involved. However today, the use of third party suppliers has increased exponentially, with many organisations outsourcing even core functions of their business. Why? Outsourcing can be financially attractive, efficient and provide competitive advantage.
 
In delegating key processes to third parties, organisatio
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