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9/22/2016
11:30 AM
Steve Zurier
Steve Zurier
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10 Ways To Lock Down Third-Party Risk

Experts share ideas for closing potential security holes that leave organizations open to attack.
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1. Align the third-party program to the company's culture, potential threats and risk aversion level.

Start by developing a program that factors in the trends, changes, and threats that could materially impact the business. Too many programs fail because stakeholders can't articulate how a third-party actually benefits their business and what level of risk they are willing to take in entering into an agreement with that business. For example, companies may find a low-cost code developer in Eastern Europe, and it may save money in the short run, but does having an offshore developer fit into the company's corporate culture? And, is it worth doing business with a company that may not always respect copyright laws? While the company may decide it's worth the risk, at least it's thought through the potential downsides.

Image Source: Pixabay

1. Align the third-party program to the companys culture, potential threats and risk aversion level.

Start by developing a program that factors in the trends, changes, and threats that could materially impact the business. Too many programs fail because stakeholders cant articulate how a third-party actually benefits their business and what level of risk they are willing to take in entering into an agreement with that business. For example, companies may find a low-cost code developer in Eastern Europe, and it may save money in the short run, but does having an offshore developer fit into the companys corporate culture? And, is it worth doing business with a company that may not always respect copyright laws? While the company may decide its worth the risk, at least its thought through the potential downsides.

Image Source: Pixabay

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Shantaram
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Shantaram,
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9/27/2016 | 2:01:32 PM
192.168.0.1
Thanks, it was really intresting article!
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