Third-Party Risk
Managing Third-Party Cyber Risk: Protecting Your Business in an Interconnected World
Understanding Third-Party Cyber Risk
Why Third-Party Cyber Risk Matters
Expanded Attack Surface
Data Privacy and Compliance
Reputational Damage
Supply Chain Disruptions
Strategies for Managing Third-Party Cyber Risk
Third-Party Risk Key Takeaways
Understanding Third-Party Cyber Risk
Proactive Risk Management
Prioritizing these practices helps protect data, ensure compliance, and maintain trust with stakeholders.
Mitigation Strategies
- Risk Assessments: Evaluate vendor cybersecurity practices.
- Contractual Protections: Set clear cybersecurity expectations.
- Continuous Monitoring: Regularly check vendors’ security status.
- Security Audits: Require specific controls and conduct audits.
- Incident Response Plans: Prepare and test response strategies.
Importance of Managing Third-Party Cyber Risk
- Expanded Attack Surface: More access points for cyber attackers.
- Compliance and Reputation: Breaches can lead to regulatory penalties and damage to reputation.
- Operational Impact: Attacks on vendors can disrupt supply chains and operations.
Customer’s Rated Foresite Cybersecurity's ProVison Platform 4.9/5 Stars
Recognized for Customer Trust and Satisfaction
"They are proficient at everything they have worked on for me. The client is very satisfied with the work that the team has done so far. They have no complaints about the quality of work and the level of service they provide."
"Foresite completed their tasks as scheduled. The client then hired a third-party service provider to conduct a penetration test to verify network security. Moreover, the Foresite team impressed the client with their extensive knowledge of cybersecurity and how to protect their networks and servers."
"Foresite’s efforts have exceeded expectations; they achieve deliverables and keep initiatives moving forward. THey also provide advice on complicated topics and communicate effectively through in-person meetings. Overall, they're outstandingly timely, knowledgeable, skilled, and forward-thinking."
"Foresite offers proactive notification, detection, and remediation of security events, freeing the client's IT staff to focus on their day-to-day duties. The team is on top of work and provides individual attention to the client. Foresite offers effective project management and is responsive."
"Foresite has partnered with us to help manage our Overall Security Posture. We've been impressed by their professional and personable service."
"Foresite provided great service during onboarding and ongoing support. We really like the fact that the team is down to earth, understands our issues, and has great product knowledge.
"I would not hesitate to recommend the Provision platform and the Foresite team. It's evident that the Foresite team collaborates on behalf of their clients and treats all our inquires thoughtfully."
