Security checks are an important part of the vendor risk assessment process. They help you identify and mitigate risks that your vendors might pose to your company.
This Security checks are not just about ensuring that your vendors have a good security posture. They also help you understand how they go about securing their systems and data, as well as how they ensure compliance with industry regulations.
Many organizations rely on third party risk management vendor audits to deliver critical services for their customers, few may be mission-critical too (for example – financial institutions, organizations providing health-care related services).
This may be either due to
Note : in all the above cases, sensitive personal data, health information, intellectual property will be involved – making it all the more critical (from the organization’s standpoint).
Let’s take a look at this blog, Why is my Personal Mobile Number being asked indiscriminately?
Organisations have to realise that any breach of any data from any touch point (either from the organisation or from the vendor) has a direct impact only on the organisation (later, on the vendor too, if involved)
Here “vendors” include (to name a few)
When it comes to vendor risk assessment, it’s best to be thorough. That means making sure that you’re performing security checks on all of the vendors involved.
A thorough evaluation of the vendor from an information security perspective provides the organization to arrive at a decision and ‘’score’ the vendor so as to take a decision – whether to engage the vendor or not.
Businesses are often negligent in performing thorough security checks during the vendor risk assessment process and as such, they put their own business at risk.
Conducting security checks is the responsibility of the organization. The goal of this article is to raise awareness on how to conduct a proper security risk assessment, identify weaknesses, and improve overall security.
Do you want to learn more about how IARM can assist you in enhancing and scaling your vendor risk management programme? Request a consultation with one of our experts right now!Inquire Now
IARM Security checks include information gathering, scanning, and penetration testing to identify weaknesses in security controls and potential vulnerabilities that could lead to a cyber attack.
IARM helps you comply with PCI-DSS, GDPR, HIPAA, and other regulatory requirements by providing full end-to-end encryption, remote activity audits, and multiple authentication and authorisation choices.
Please feel free to contact us or submit a business inquiry online, our expert will contact you soon!