THIRD PARTY ASSESSMENTS

Third-party vendors are incredibly useful. They allow businesses to automate certain processes, like implement payroll services, provide IT cloud services to host financial or client data, manage technology and host your critical business applications. But third-party vendors and partners also have their downsides.

Security breaches attributed to third-party partners increased by 22% since 2015. On average, organizations spent $10 million responding to third-party breaches over the previous 12 months. But organizational risk isn't limited just to direct revenue loss. Reputational impacts, regulatory exposure and lawsuits can cause lasting damage and lead to job losses for executives, directors and others in the organization.

Taking our extensive experience in the IT security, risk and compliance area plus best business practices, we have created a third-party assessment and program which makes Total Cyber Consulting Inc. the trusted advisor for many companies.

Our methodology includes:

Partner Trust Assessment (definition of Security Requirements using a Risk Based Measure)
Privacy Impact Assessment (measures Privacy and Data Governance Controls)
Business Impact Analysis (a measure of impact to your business given an unavailable service)
Classification of partner risk level, and creating custom security requirements
Testing and assessment to ensure third party security requirements are in place
Follow-up activities with your team and your Vendor or Partner to ensure issues are remediated

With this information and together with your executive, IT, business and legal team we will create the optimized Third-Party Program and remediation plan tailored to your business needs and the risks you are exposed to.