Supply Chain Resilience – How a TPRM Tool can Help

Organizations spend an extensive amount of time and money ensuring they are protected from cyber threats. However, organizations with robust cybersecurity defenses are still being compromised through their supply chains, demonstrating that you are only as strong as your weakest link. A survey from the polling agency Opinion Matters found that 97 percent of organizations have been negatively affected by a cybersecurity incident occurring in the supply chain. Organizations looking to strengthen their supply chain should consider utilizing a third-party risk management (TPRM) tool. These programs can help organizations increase their resilience by performing three key functions. First, TPRM tools can help with validating vendors and their security posture. Second, they can provide continuous monitoring of a company’s supply chain to give greater visibility into any potential compromises via third parties. Finally, by offering effective assurance, TPRM tools can provide a comprehensive understanding of an organization’s supply chain ecosystem to help better defend themselves against a potential supply chain compromise. For more resources to help organizations identify, assess and respond to cybersecurity risks throughout the supply chain, the National Institute of Standards and Technology (NIST) recently updated their guidance on supply chain risk management. Read more at Infosecurity.