Through the supply chain model of operation, there’s a lot that can go wrong. It’s important that you pay very close attention to the risks posed by these third-party partners to your IT security. Even though many partners only have limited access to your organization’s systems, it may still include access to sensitive data. One of these partners may be the weak link that puts your entire security system in jeopardy. Nearly 80 percent of businesses have suffered a security breach related to a third-party partner (according to a survey conducted by Opinion Matters for BlueVoyant, June 2020).
For many businesses, utilizing the supply chain model is most effective as it allows for the outsourcing of core functions which can save time and money. This model is even vital for some as it can allow certain businesses to thrive in a competitive field. It’s important to recognize the ways that managing different types of vendors can expose your data to several threats. There are many things you can do to minimize the risks and maximize the IT security and safety of your business.
Direct Control – It’s important that you maintain direct control by having full visibility and control into third-party networks so you can more easily identify potential risks or respond to threats when needed.
Data Integrity – Data integrity is crucial for informed decision-making. It will also improve operational efficiency and help you to gain a more competitive advantage. It’s important to implement a comprehensive third-party risk management strategy that includes a robust backup and recovery solution.
Best IT Security Practices – Your managed IT service provider can help you implement best practices when it comes to your data’s IT security. Defining roles and limited access provided to third-party vendors will allow you to control user access to sensitive data.