Third Party Cyber Risk
Mitigating Third-Party Cyber Risk with Secure Halo
Can Third Parties Be Trusted?
Every organization is facing an increasing reliance on third-party services to support even the most critical business functions. These trusted third-parties are selected based on the knowledge and expertise they bring in delivering innovative, cost-effective solutions to help meet business goals and support customer expectations. But do your third-parties take the same care as you do in securing the critical business information that you have entrusted them to protect?
Too often, the answer is no.
A Ponemon Institute report notes that 53% of organizations have experienced at least one third-party-caused data breach, with remediation costs averaging $7.5 million. Further, according to an Osano report that observed the direct relationship between poor privacy practices and data breaches, the average American organization shares data with 730 distinct third-party vendors. Of those organizations hit with data breaches, third parties were responsible for two of every three.
EXPERIENCED AT LEAST ONE
THIRD-PARTY-CAUSED DATA BREACH
AVERAGE AMERICAN ORGANIZATIONS
SHARE DATA WITH
DISTINCT THIRD PARTY VENDORS
OF THOSE ORGANIZATIONS HIT WITH
DATA BREACHES, THIRD-PARTIES WERE
2 OF EVERY 3
FEWER THAN 25% IN FACT,
MONITOR THEIR ENTIRE SUPPLY CHAIN
ONLY 2% ASSESS AND REPORT ON
THIRD-PARTY CYBER RISK DAILY OR IN
Know your Risk
Understanding the security posture of your third parties puts the power back in your hands. This empowers you to evaluate and balance the value that your third parties provide versus the potential risks to your business’ success. The bottom line is that it enables you to make informed risk decisions.
Secure Halo has emerged as a critical solution for third-party risk management (TPRM). Our platform provides individual risk profiles of each of your third parties and aggregates this information into a dashboard so you have a comprehensive view of all the third parties within your ecosystem. This critical capability delivers an all-encompassing, real-time analysis of your third-party cyber risk.
Secure Halo provides organizations with the ability to establish requirements prior to granting access, identify outliers for remediation, and track improvements over time covering the end-to-end processes necessary for third-party risk evaluation and management.
- Simplify your third-party risk management process
- Quickly distribute assessments to your third parties
- Track their assessment progress in real-time
- View prioritized risks within your third-party ecosystem
- Compare the security posture of your third parties’ security posture with your own
- Make faster and better-informed decisions
In this era of digital transformation, we know you won’t succeed and grow without your third-party partners. However, it is only by knowing THEIR risk can you make the right decisions to reduce YOUR Risk.
Get In Touch
962 Wayne Ave, #310
Silver Spring, MD 20910
(301) 304-1700 (Sales)
(202) 629-1960 (Office)