In today’s hyper connected business environment, companies are increasingly relying on third parties like vendors, contractors, and partners for critical business functions. While these relationships can provide enormous value, they also introduce significant cybersecurity risks if not managed properly. By the end of this year, the cost of cyber attacks on the global economy is estimated to top $10.5 trillion. Recent high-profile breaches have shown that threat actors are actively targeting third party networks as a means to infiltrate their customers. That’s why having a well-developed third party risk management program is no longer optional for organizations; you need an incident response plan.
