The Small Business’ Guide to Mitigating Third-Party Risk

Relationships with vendors and service providers can deliver business value and augment internal operations, but working with third-party companies, from suppliers to consultants, also comes with risks.

guide to mitigating third-party risks

Mitigating third-party risks is critical for your business success even though third-party vendors offer strategic value to many small and midsize organizations. Unfortunately, they often come with cybersecurity risks that can lead to breaches if not mitigated properly.

Data shows that these incidents are common and costly, but third-party risk management can help reduce your vulnerability. The purpose of this guide is to help organizations minimize their vulnerability to third-party data breaches by implementing third-party cybersecurity risk mitigation practices.

In this guide to mitigating third-party risk, you’ll learn about:

  • Why third-party risk management is critical for your organization
  • Types of third-party relationships
  • Common risks to consider
  • Practical steps to put into practice today to mitigate vendor risk
  • What to do if you are a third-party vendor

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