Breaking Free From the Hamster Wheel of Third-Party Risk Management
Learn how to reduce third-party risk in your organization, better prioritize your vendors, and get value out of your third-party risk management (TPRM) tools and analysts.
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Why continue with the status quo of third-party risk management (TPRM)?
Cyber risk stemming from third parties is at unprecedented levels, as shown with several high-profile breaches in recent years. Third-party risk management programs are designed to offload that risk, but the current approach isn’t providing the intended results.
Companies assess an average of 404 vendors, but are hampered by siloed business functions and communication breakdowns between internal stakeholders
Expensive security tools have taken the place of good risk prioritization
The same vendors are assessed year after year without substantial corrective action
How prevalent is third-party risk?
According to the Ponemon Institute, nearly 61% of U.S. companies have experienced a data breach caused by a third party. Continuously repeated efforts to address third party risk have not reduced this number.
Attending this webinar will give you an understanding of…
Identifying methods to maximize your investments towards third-party risk management
How to establish Corrective Action Plan (CAP) Management to encourage better results year over year
Best practices for prioritizing your vendors
Encouraging effective communication between internal stakeholders