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Risk

4/19/2019
10:00 AM
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Third-Party Cyber-Risk by the Numbers

Recent stats show that the state of third-party cyber risk and vendor risk management remains largely immature at most organizations.
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Assessment Mess

Even when investments are being made to gain visibility into vendor and partner risks, the CyberGRX study seems to indicate that there's still a lot of wasted effort in the third-party assessment process. The study shows that third parties spend 15,000 or more hours completing assessments every year, and enterprises only take action on about 8% of those assessments.

Image Source: Adobe Stock (memyjo)

Assessment Mess

Even when investments are being made to gain visibility into vendor and partner risks, the CyberGRX study seems to indicate that there's still a lot of wasted effort in the third-party assessment process. The study shows that third parties spend 15,000 or more hours completing assessments every year, and enterprises only take action on about 8% of those assessments.

Image Source: Adobe Stock (memyjo)

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