If you’re like most companies, you want to do business with vendors because they simplify your life. That is, unless your vendors are breached. Then they complicate, and may even threaten, your business. Why does this happen? And what, if anything, can you do to prevent this from happening? What does your vendors’ security have to do with you? When...

Now, more than ever, managing third-party security risk is critical. And one of the ways to manage this type of third-party risk is through vendor security questionnaires. That being said, third-party vendors notoriously hate questionnaires. They complain incessantly about needing to answer tens, if not hundreds, of security questions. They are especially frustrated if the questions being asked are not...

It is no secret that there is a shortage of skilled cybersecurity professionals. Couple that with COVID, remote and hybrid working, and a rise in security breaches and you’ve got a lot of stressed, overburdened professionals looking for effective solutions to make their jobs easier. Sound familiar? If this resonates with you, it’s fair to say that automating your third-party...

Wouldn’t it be great if you could get a sneak peek at all the upcoming 2022 cyberattacks? Yes, it would be. But, since that’s not going to happen, we’ve done the next best thing.  Panorays used data from our cyber posture evaluations of tens of thousands of third parties from various industries over an extensive period of time to find...

Are security questionnaires your Achilles heel? While there’s no avoiding them in your third-party security risk management process, there are definite ways to make the process smoother, faster and more productive. Tip 1: Be sure your questionnaire considers inherent risk Inherent risk is the risk level your business faces when you do nothing to reduce the likelihood or mitigate the...

The past two years have certainly taught us to expect the unexpected. That being said, it behooves us to look at the past to gain invaluable insight into the future. As we reflect on the massive changes that have occurred in our world, Panorays experts weighed in on what cybersecurity issues they see taking precedence in the coming year. 1....

Reading the statistics and poring through articles about recent third-party security breaches may educate you about current cyber dangers, but it won’t actually solve anything. The best way to minimize your risk of third-party cyberattacks is by implementing a comprehensive and efficient Third-Party Security Risk Management (TPSRM) process. But if you’re like many, you are part of a small team...

To avoid costly mistakes, financial institutions such as institutional investors, private equity firms, venture capital firms, mutual funds and underwriters perform a thorough examination of an organization before investing in it. Aside from evaluating things like management, size of market, an organization’s business model and a product’s competitive edge, financial investors also assess the risk level before financially backing any...

Just because financial services is a highly regulated industry doesn’t mean that managing your suppliers needs to be an arduous process. It seems counterintuitive that the same vendors who are supposed to simplify your job and expedite day-to-day processes are also costing you hours, days and months to manage. The process of onboarding, managing and maintaining compliant suppliers is a...

Are you charged with managing your organization’s third-party security and find yourself manually sorting through spreadsheets, trying to make heads-or-tails of your suppliers’ security questionnaires? Are you frustrated by the weeks or months it takes to onboard a new vendor? Are you concerned that your organization will be the next victim of an expensive third-party cyberattack? Wondering how you’ll ever...