Organizations need to do more to manage technology risks related to their service providers.
How prepared are organizations to assess and mitigate technology risks related to third parties?
Leifermann Organizations are becoming more dependent on technology for their business-critical functions, and simultaneously relying on third parties to provide this technology for infrastructure and services. This means that the level of technology risks, and specifically technology risks related to third parties, is continually increasing. Although organizations are identifying, assessing, and mitigating technology risks, this is often more focused on what happens inside their IT departments, rather than what happens outside the organization in their service providers. Accordingly, organizations need to do more to manage technology risks related to third parties, to minimize both the likelihood of these risks occurring and the impact if they actually occur.
