Bitsight #1: How to Set a Solid Foundation for Your Third-Party Risk Management

As companies grow, so do their third-party digital ecosystems. This is hardly a new phenomenon, but the dynamic changes and rapid growth often experienced today have made it increasingly difficult for companies to stay on top of their multiplying business relationships. Today, organizations are looking for best practices on how to handle this from a cybersecurity perspective. Given that there are multiple frameworks, approaches, and guidelines, it is hard to figure out which best practices will meet the needs of your organization. In Part 1 of this series, we’ll discuss frameworks, policies, and process to build a successful third-party risk management program; typical roles and responsibilities found in programs across companies of all sizes and best practices for third-party governance and program sponsorship.