Know your level of third-party risk.

More than half of all security breaches result from third-party vendors hired by your organization. So it’s critical that you identify the vendors working for you and determine the level of risk they bring. The easiest way to do this is by using vendor risk management software. Our VRM services help you to pinpoint the vendors that present the most risk to your organization—equally evaluating all third-party vendors and bringing your weakest links to the surface. Armed with a standardized, risk-based scoring methodology coupled with a built-in remediation plan, CIMS will work to assist your vendors in correcting any security issues that arise in order to protect their organization and yours.

Organizations can’t adequately determine their vendor risk without knowing who ALL of their vendors are. Building an inventory is a key first step.
Step 2: Classification

Step 2: Classification

Once organizations know who their vendors are, it’s important to classify them. Categorize the impact a vendor’s risk has on you so you can prioritize better.

Step 3: Assessment

Once you understand who your high-risk and medium-risk vendors are, quantifying the risk that comes along with that vendor becomes crucial.

Step 4: Risk Treatment

So you know all your vendors and the risk they pose. How do you want to handle it? Agree upon remediation efforts to help mitigate risk.