How to Manage Vendor Risks

Organizations with vast business operations heavily depend on the expertise of third-party vendors to conduct different tasks. They could be involved…

Organizations with vast business operations heavily depend on the expertise of third-party vendors to conduct different tasks. They could be involved in developing security systems such as antivirus software or intrusion detection systems, manufacturing data storage devices such as external hard disks, processing data, enabling financial transactions, and other such indispensable tasks. 

Third-party vendors can certainly increase the efficacy of your business operations. However, they are also the biggest source of risk in all organizations around the world. This is because the control of your organization on the operations of third-party vendors is minimal if not zero. Moreover, the visibility of their ways of processing or handling the data that you share with them is also extremely poor…

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