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It’s common that many businesses outsource aspects of their operations, but in doing so, they are responsible for ensuring the security posture of those external entities – which is operationally complex, to say the least. This was the objective of our latest innovations to Fusion’s third-party riskmanagement solution.
Third – party riskmanagement (TPRM) continues to be a focus area for both regulated and non-regulated entities alike in the operational resilience landscape. The reason being that t hird parties often introduce added risk to organizations outside the scope of their direct control. .
A key focus has been on technology and data service providers (TSPs) , as cyberattack incidents such as SolarWinds and Log4j have proven that third parties present risks that significantly impact important business services. One legislation addressing these risks is the landmark Digital Operational Resilience Act (DORA).
Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective riskmanagement disciplines to run their programs and serve their customers. Or, as so well articulated by the great British writer C.
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