Glossary
Vendor Risk Management
Vendor risk management is checking out companies before you do business with them - making sure they will protect your data as well as you would.
What is Vendor Risk Management?
The process of identifying, assessing, and mitigating risks associated with third-party vendors who have access to organizational data or systems.
Why Should You Care?
Third-party breaches are increasingly common. Organizations are responsible for ensuring vendors meet security requirements.
Is your business exposed?
Real-World Example
A company requires all vendors with access to customer data to complete security questionnaires and undergo annual assessments.
How to Protect Against Vendor Risk Management
- 1.
Create vendor security assessment program
- 2.
Implement vendor risk scoring
Related Terms
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