1 year ago

Assessing https://www.upguard.com/blog/cybersecurity-risk for potential vendors is one of the most important aspects of managing third-party risk for any organization. This guide will focus on how organizations can identify and assess cyber risks for potential vendors and how they can prepare themselves for the process.

Organizations and businesses can follow the next steps as part of their cyber risk assessment process: Identify all business-critical assets, systems, and data Identify all potential risks, https://www.upguard.com/blog/vulnerability, and https://www.upguard.com/blog/cyber-threat Determine risk criteria and risk tolerance Review existing security controls Verify compliance with existing industry standards, frameworks, and regulations Calculate the likelihood of risk occurrence and total impact Define contractual terms and service-level agreements (SLAs) Identify All Business-Critical Assets, Systems, and Data Understanding which assets are most critical to your organization is the first step in the vendor risk assessment process.

How UpGuard Helps Organizations Assess Cyber Risk in Potential Vendors https://www.upguard.com/ supports organizations building out their https://www.upguard.com/blog/third-party-risk-management programs (TPRM) through https://www.upguard.com/product/vendorrisk.