Vendor Security Audits

Vendors are an inevitable part of your business, but how do you know who to trust? How do you properly vet them so that your company data, IP, and brand aren'tReview at risk?

Our Vendor Security Assessment can provide a comprehensive review of your current vendors  by working with your IT and Finance teams to identify and provide a risk posture score by assessing several criteria like; 

• Their security/breach history
• Current regulatory compliance standing
• What internal data do they access
• Review contract terms for loopholes or gaps in protecting your data, and their data and information security obligations.

We look for red flags like Zombie and duplicate SaaS products and create a risk registry for all your vendors to highlight previous breaches, duplicate spending & expired accounts, and dark web mentions of your brand or your vendors. 

One of the best examples of Zombie apps is the amount of unused or duplicated SaaS subscriptions that companies are unaware of being used within their ecosystem and/or being automatically paid for by the company.

The Software as a Service (SaaS) market size was estimated to be worth USD $215.10 billion in 2021. With employees using an average of 8 SaaS applications and more than 1/3rd of apps being purchased by employees themselves, this makes for disaster waiting to happen.

The rapid increase of SaaS tools that have flooded the market, often performing the same function, has caused a shocking increase in 'dark' download use among employees. 

The rapid increase of SaaS tools that have flooded the market, often performing the same function, has caused a shocking increase in 'dark' download use among employees. 

Facts:

* IT leaders are most concerned about shadow IT, security, configuration issues, and duplicate applications

* More than 2 in 5 IT leaders took issue with employees adding new SaaS applications without notifying IT and struggle to manage the security of SaaS applications.

* More than half of IT executives said their organization does not track SaaS usage to align contracts with software needs and if resources weren't a factor, they would implement SaaS application buying training for all employees 

Similar to an Asset Inventory, a Vendor risk management (VRM) is the process of ensuring that the use of service providers and IT suppliers does not create an unacceptable potential for business disruption or a negative impact on business performance.

Vendor management can identify, analyze, monitor, and mitigate the risks that third-party vendors might pose to your organization. Such risks could affect your business’s cybersecurity, regulatory compliance,  business continuity, and organizational reputation. and a live document shares information like changes in terms, breach notifications, duplicated accounts, risk score, expiring or expired licenses, changes in subscription levels and renewal details, financial risk scoring, and integrations risks.

This process can create a standardized method for risk that ties into your current overall security infrastructure practices and helps with employee onboarding, reducing the cost of excess or unfit vendors, better-reporting transparency, and having a better defense stance when it comes to protecting against vendor data breaches.

Dark Web Monitoring is used to identify mentions of organizations on deep web and dark web forums and marketplaces, particularly any mentions which include compromised business data being illegally shared or sold.

Brand reputation is everything and if you aren't aware of how and where your company's name, brand, or IP is being used, you are putting your reputation at high risk for failure. Brand monitoring can help manage your online reputation from "Brandjacking" a $9 Billion dollar market. 

Book a call with us now for a Vendor Security Assessment and let's get you back on track.