iTracker
Mapping Third-Party Compliance in the Supply Chain

On average over 180 vendors access a company’s network in a given week, and 85% of organisations are unaware of their data being accessed by Nth party processors who they have no direct relationship with. Vendor landscapes include illegitimate Nth party data handlers and left unmonitored will increase exposure to disruption of business critical processes.

Cyber-attacks originating via third parties are on the rise. 57% of organisations don’t know if their vendor safeguards are sufficient to prevent a breach and of these 71% say a primary third-party vendor would NOT contact them about a data breach. The cost of a data breach can be crippling to any business continuity plan.

Audited data privacy policies and global industry data security standards are regulated with punitive consequences for non-compliance. The care of duty and the risk rests with the data controller (the originator and caretaker of the data). Well prepared risk programs that include efficient vendor management will mitigate risk when balanced with a responsible cyber and liability insurance investment.