On September 30, Everest Group's experts participated in a webinar titled, "Could Your Business Partners Be Offering More Risk than Support?"

Cybersecurity attacks are constantly in the headlines. And while companies are indeed developing robust programs to face those challenging threats, focusing on your assets alone is no longer enough.

Today, many companies exceed more than 150,000 external vendors to help run their business. But, did you know that over 60% of security breaches are actually caused directly or indirectly by a third party? Managing, monitoring, and mitigating that risk has become incredibly challenging in today’s interwoven digital universe.

In this session, we discussed how the market stands today, what issues organizations are facing, why this risk is complex to manage, and above all, we reviewed new strategies and tactics to ensure robust cybersecurity practices across the supply base.

Our speakers answered the following questions:

• Why is third-party risk management more challenging today than just a few years ago?
• How does the market stand today in regard to maturity, current solutions, etc.?
• Why aren’t historical procurement practices (contractual clauses, questionnaires, etc.) sufficient anymore
• What kind of innovative solutions can be implemented to put things on a better track?