Third-Party Risk Management Consulting

Managing third-party risk is increasingly vital as organizations expand their reliance on external partners. The complexity of these relationships has grown due to factors like global service delivery, cloud computing, and a mobile workforce.

Key Challenges

Organizations often face difficulties in ensuring that third parties meet their security and operational standards. Common concerns include:

  1. Verification of Controls: Questions arise regarding whether vendors are implementing the controls they claim.
  2. Risk Exposure: Failure to assess third-party relationships can lead to significant risks, including data breaches, operational outages, and regulatory issues.

Digisecuritas Approach to Third-Party Risk Management

Digisecuritas offers a comprehensive strategy for managing third-party risk. Their approach includes:

  • Program Development: Assisting organizations in establishing or enhancing their third-party risk management programs.
  • Framework Creation: Providing a sustainable process for assessing and managing risks associated with third parties.
  • Execution Support: Offering managed services and ongoing monitoring to ensure the effectiveness of the risk management program.

Leveraging Technology

Many organizations still rely on spreadsheets for managing third-party risks, which can be inefficient. Digisecuritas helps clients select and implement appropriate technology solutions tailored to their needs. This includes:

  1. Integration with Existing Systems: Ensuring that risk management aligns with broader IT strategies.
  2. Customization of Tools: Utilizing platforms like ServiceNow® and others to optimize third-party risk management processes.

Conclusion

With the increasing number of third parties and the complexity of their services, a robust third-party risk management program is essential. Digisecuritas provides the expertise and tools necessary to build an effective framework that adapts to changing risks while maintaining alignment among stakeholders. Organizations can enhance their resilience against potential threats by proactively managing these relationships.

Hackers Never Sleep. Neither Do We.



DUBAI OFFICE

+971-54-565-9528

Digisecuritas Cybersecurity, FZCO 52550-001, IFZA Business Park, Dubai Digital Park, Dubai Silicon Oasis, Dubai, UAE



INDIA OFFICE

+91-8196966161, +91-8194943131

SCO 27, Level-II, Sector 21C,
Sector 21, Chandigarh, 160022