CRMG Perspective: Why your vendors could pose the greatest cyber risk to your business

It’s common for businesses to work with a wide range of suppliers.

From outsourced payroll management to accounting software, organisations of all sizes rely on vendors and the services they provide for business-critical processes, solutions and activities. But did you know that these suppliers can pose a significant risk when it comes to cyber security? 

Third-party providers can act as a hidden back door through which attackers can access and take down your business. Without the right products and processes in place, your supplier’s cyber risk becomes your own, and that leaves you vulnerable not only to a cyber attack but also to other consequences of poor vendor cyber security hygiene. 

This lack of awareness means that small to medium-sized businesses are not ascertaining the level to which their vendors are cyber resilient, nor taking the steps required to close any gaps that attackers could and will exploit given the opportunity. 

Of course, most businesses are unsure how to assess a vendor regarding the cyber security protections and processes they have in place, or how to identify areas of exposure and how to address them.