5 Steps to Manage Third-Party Security

Networks were once the fences that protected businesses from external threats – a barrier only employees could access, fully controlled by the company.

The upward push of smart workplace, telecommuting, virtual private networks and BYOD initiatives has modified all of it. Businesses are an increasing number of reliant on third-party applications and business partners, from cloud storage providers to payroll systems, which have get right of entry to to sensitive information. Many third parties use other third parties themselves, leaving organizations with little manipulate over their information security protocols.

Terrible outsourcing choices are responsible for 63 percent of data breaches, and 53 percent of organizations who are sufferers of a information breach are vulnerable to any other attack because service providers come with third party security problems.

In spite of solid security practices, no company is immune to insecure protocols. Risk management offers a way to stand the challenges that come with third-party vendors:

1. Establish a vendor management program. It should begin with an initial assessment that can be reviewed at regular intervals.
2. Rank vendors according to risk. Comprehensively catalog all third-party risks and rank them according to severity. A rules-based due diligence test will ensure a systematic approach. Also try leveraging existing vendor risk assessments, such as the Shared Assessments Program, to keep up-to-date with industry standards.
3. Ensure third-party apps employ proper protocols. With more apps hosted on the cloud, properly integrated security is imperative. The Cloud Security Alliance recently launched an open API group to standardize APIs, which should help to ensure core business systems communicate securely with other applications.
4. Practice endpoint security. Every computer is an endpoint, and each terminal must be responsible for its own security. Commercial cloud systems have significantly increased endpoint risk, and systems must be in place to combat this threat. Enforce a network-wide usage policy, and find an endpoint security product that offers strong real-world protection.
5. Keep current with third-party vulnerabilities. Ironically, some great third-party big data tools are available that can provide vulnerability intelligence. The National Vulnerability Database is the biggest and best one.

Feel free to contact E-SPIN for the solution for your system and operation to reduce risk of your businesses  and organization. We can secure and protect your businesses with our various software security technology.