In this session, David will examine the most prevalent issues that attribute to third party breaches. He will review the challenges surfaced by the current work from home requirements, new COVID-19 risks, and additional concerns posed by the necessity for expanded collaboration.
He will explain what is a cybersecurity rating, and what are the major factors that comprise one. Comparing this with traditional Vendor Risk Management, he will revisit some of the challenges due to questionnaire exchange, manual processes, third-parties with access to sensitive data, and risk mitigation strategies.
David will explain the key elements included in a Cyber Risk Management solution, and contrast the drawbacks of point-in-time solutions that try to address these risks. Highlighting a recent case study, he discusses key requirements–such as automation, collaboration, centralized insights, prevention, and maximizing ROI–which led to multi-million dollar savings.
Looking to the future, David will share some cybersecurity rating predictions, discussing the major tailwinds in vendor risk management. He will explain how these solutions enable organizations to make more informed, less risky, and decisions faster.