Enterprises continue to struggle with the increasingly difficult mandate to consistently improve, maintain, and document cybersecurity in order to protect and enhance brand reputation, customer trust, and the bottom line. Top of mind on the cybersecurity agenda is adopting a more agile approach to managing emerging risks across an organization’s third-party portfolio. The staggering cost of data breaches continues to escalate and is predicted to exceed $2 trillion by next year, according to Juniper Research. The average cost of a single breach is more than $4 million, estimates the Ponemon Institute. Industry analysts suggest that nearly two-thirds of data breaches can be attributed to third-party vendors.
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