It’s Data Privacy Week, a time to reflect on the importance of protecting our data – whether it be personal information or business intelligence, in an increasingly digital world. While we often focus on securing devices, e-mail, and cloud apps, there’s another crucial aspect of data privacy that can easily be overlooked: third-party risk management and vendor risk management.
In a digital-first world, organizations rely on a vast network of third-party vendors and partners, from cloud service providers and marketing agencies to software developers and HR and payment processors. Each of these partnerships introduces potential vulnerabilities, as our data often flows through their systems and networks.
Why are third-party cyber risks so important to assess?
AI-powered third-party cyber risk assessments: Your shield against hidden threats
An AI-powered third-party cyber risk assessment is an automated and systematic process of evaluating the security posture of your vendors with the help of artificial intelligence and machine learning models. It helps your third-party risk and cybersecurity teams understand potential vulnerabilities in their systems and processes, allowing you to:
Data Privacy Week is a perfect time to prioritize third-party risk management. Here are some actionable steps you can take:
By proactively addressing third-party cyber risks, you can safeguard your organization’s sensitive data and continue to build trust with your customers.
Leveraging an AI-powered TPRM platform like VISO TRUST can transform your approach to third-party risk management. By automating the discovery, classification, and assessment of security controls, you can eliminate manual processes and drastically reduce assessment timelines from weeks to mere days. This enables your team to focus on strategic security initiatives rather than being bogged down by repetitive tasks.
With continuous monitoring and real-time insights, VISO TRUST’s platform ensures you stay ahead of evolving risks, safeguarding your organization’s sensitive data and maintaining compliance with privacy regulations like GDPR and CCPA.
As the complexity and number of third-party relationships grow, adopting a scalable solution is key to keeping pace with your business needs. VISO TRUST’s TPRM platform provides enhanced visibility into your vendor ecosystem, allowing you to prioritize high-risk vendors and make informed decisions faster.
By integrating seamlessly into your workflows, the platform improves operational efficiency, reduces vendor assessment bottlenecks, and fosters stronger relationships with both internal stakeholders and vendors.
Remember, Data Privacy Week is just the beginning. Make every week a commitment to comprehensive data security.
Start a free trial of VISO’s TPRM platform and take control of your vendor security, trust, and data privacy: Get started
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