Addressing Third-Party Cyber Risk
Moving Beyond a False Sense of Security
June 02, 2023
This Harvard Business Review Analytic Services report, sponsored by FTI Consulting, details how organizations can implement proper third-party cyber risk mitigation strategies, including helping bolster the security of their suppliers.
This article from Harvard Business Review was first published on June 21, 2021. The entire publication is available at: https://hbr.org/sponsored/2021/06/addressing-third-party-cyber-risk-moving-beyond-a-false-sense-of-security
“In today’s corporate environment, it is commonplace to outsource business operations functions to third-party suppliers for increased efficiency and to optimize internal resources. However, the added outsourcing benefits also carry significant cyber risk, as these connected entities can serve as an access point for cyber actors.
Third-party cyber risk is a unique issue in that while most organizations are aware of the significant threat it poses, many fail to implement an adequate risk mitigation strategy. Organizations are unprepared, and there is a disconnect between having awareness of a problem and the ability to manage it.”
Posted with permission from Harvard Business Review Analytic Services © 2021 Harvard Business School Publishing. All rights reserved.