Vendor Risk Assessment | Vendor Security Assessment

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By Bill Minahan   |   February 21, 2020   |   0 Comments

Vendor Risk Assessment

A vendor risk assessment is the first step to identifying and mitigating risks posed by vendors.

In today’s increasingly connected world, we know you rely on your business partners to provide critical services. However, your cyber security is only as strong as your weakest vendor. Unfortunately, third-party data breaches are occurring more frequently than ever before. The results of a third-party data breach can be disastrous for your business, customers, and business partners.

As a result, businesses are doing their due diligence by vetting the cyber security of the organizations they partner with.

The first step in the vetting process is a vendor security assessment.

How does a vendor risk assessment work?

vendor risk assessment

A vendor security assessment works by providing an in-depth review of your vendor’s network security.

First, you have your vendor take our assessment using our free tool. Then, our cyber security analysts review your vendor’s answers and determine which of your vendor’s weaknesses pose the most critical threat to your organization.

Finally, our analysts work with you to determine the security hygiene of your vendor(s) and create a risk mitigation plan. As a result, both you and your vendor strengthen your security posture and avoid potential data breaches and security incidents.

Vendor Risk Assessment Objectives

  • Identify third-party vendors and their associated cyber security risks
  • Ensure compliance requirements are being met
  • Enhance third party vendor contracts
  • Develop a prioritized and actionable plan for vendor risk mitigation
  • Continuously evaluate vendor risks and vulnerabilities

If you are interested in conducting a vendor security assessment, then you can schedule a meeting with one of our analysts to start the process today.

Otherwise, you can send your vendors directly to our free cyber security assessment tool. Once they fill out the assessment, then a cyber security analyst will contact you to review the report.

Vendor Risk Assessment

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