Set The Right Expectations and Lower Vendor Security Risks
At EXTEND Resources, we perform comprehensive third-party risk assessments and work with your vendors to manage and protect both your own data and your customers' data.
Why is it important to assess Third-Party Risk?
One weak link in your vendor chain can compromise your entire environment. When your vendors handle your sensitive data, they become the custodians of your reputation. One oversight, weak password, or even one unchecked access point can expose your company and your customers, tarnishing your brand’s reputation and leading to financial losses and legal ramifications.
These are some of the questions that we ask when we first start working together:
- Have you assessed your vendor risks in the past year?
- Do you know if your third parties have recently experienced a data breach?
- Have you assigned business impact categories to your third parties?
- Do your vendor contracts include cybersecurity requirements and are you fully confident that your vendors meet them?
- Have you evaluated the security practices of your vendor’s third-party vendors (fourth parties)?
Why should you choose EXTEND to assess vendor risk?
- Software Patching
- Application Security
- Web Encryption
- Network Filtering
- Breach Events
- System Reputation
- Email Security
- DNS Security
- System Hosting
Third-Party Risk Assessment
Keep Your Third Parties in Check
You can’t defend against what you can’t see. This is why our risk management solutions begin with identifying weaknesses in securing sensitive data, noticing potential cybersecurity threats due to increased avenues for attacks, and analyzing unintended exposure of data by third parties with access to both your data and your customer data.
Our dedicated team carries out a thorough risk assessment of critical third parties in your network, considering factors such as cybersecurity measures and operational reliability. EXTEND’s advanced analytics capabilities help quantify these risks and provide an objective evaluation, allowing you to make informed decisions tailored to your risk profile.
Once we understand and assess the situation, we leverage the latest security measures and effective risk management strategies to limit the potential impact of those newly identified risks. Our team guides your organization and your vendors through the creation and implementation of effective security policies and controls to mitigate risks and protect your business interests.
With the right strategy in place, it is now your responsibility to monitor vendor risks on a regular basis. Because threats are constantly evolving, EXTEND will help you define and implement ongoing or intermittent supervision plans and threat management procedures to help you stay ahead of risks.