The EU’s General Data Protection Regulation states that organisations are not only responsible for their own cybersecurity status, but also for ensuring that their suppliers and third parties have strong cyber protections in place. This requires honesty from third parties, who must immediately disclose if and when they suffer a cyberattack, as well as any other relevant details.
However, with their own cybersecurity and compliance at stake, organisations can’t just wait to be notified of a third-party’s breach. As the costs (financial, reputational and otherwise) associated with cyberattacks continue to grow, digital risk management must become a priority. Therefore, organisations should take steps to proactively manage their third-party risk and compliance status.
Of course, this is easier said than done. Organisations will already have certain digital risk management strategies in place in line with GDPR and other regulations, such as regular questionnaires that must be completed by third parties to fully understand any risks inherent in using a certain supplier. However, these questionnaires are typically completed yearly, which means that cyber and compliance statuses may change dramatically in the periods between.
That’s why CyDesk aggregates data on third parties’ cybersecurity and compliance statuses continuously, giving organisations an ongoing view into their entire digital ecosystem. CyDesk collates information from the standard questionnaires, augmenting this information with constant data streams from a variety of sources to ensure a complete and nuanced understanding of your organisation’s digital risk. Armed with this information, your organisation can take any steps necessary to protecting your data and systems.
The number of hacks has only increased in the past two years, and looks likely to continue to grow. But with the right preparation and tools, you can protect your organisation against costly cyberattacks.