Cybersecurity is the practice of protecting systems, networks, and programs from digital attacks. These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information; extorting money from users; or interrupting normal business processes.
Although cybersecurity is nothing new, but a majority believe it’s an internal exercise. You only need to protect yourself as an organisation, and develop the right firewalls, etc. However, organisations face unique risks when they entrust personal and confidential information to vendors. Organisations should require specific contractual protections relating to information security and use, and ensure these protections are sought in addition to the main Agreement with the vendor.
For example, the agreement will address appropriate measures the vendor will use to secure its systems and data, including your confidential information against internal and external threats and risks/third party risks. An agreement will also ensure, the vendor’s relevant personnel who will deal or have access to your data are roped into the vendor’s compliance obligation, and will provide the necessary report of breaches/corrections to keep your data safe.
Another perilous position is where, Your Vendor, has other branches/subsidiaries, or is a multinational, with Cross-Atlantic personnel, who also will deal with your Data. An agreement imposes a continuing obligation, Cross-Atlantic, on out of state or country computers. On the other hand, you may restrict data transfer out of state/country. Having an agreement will be the forum for regulatory procedures of how your data should be dealt with.
Recommendations: YOU Must check your vendor health, and even get them to contract with you on cybersecurity compliances and third party risks.
YOU can Increase visibility into vendor relationships and health with at-a-glance dashboards and centralized data and documentation, through a software tool. Business dealings, infrastructure, and more, are all vulnerable to cyber threats. Using tools for automation to detect threats to alert your stakeholders to risks in your organisations helps to proactively manage such risks.