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.

Third-party vendors offer strategic value to many small and midsize organizations; 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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