Successful CIOs, CTOs & executives from Forbes Technology Council offer firsthand insights on tech & business.
Cybersecurity risk management is a high-stakes, daily task for every organization that collects and manages digital data. It’s challenging enough for a team to spot and secure vulnerabilities and stay on top of emerging threats when they’re dealing solely with internal systems—the difficulty and complexity rise significantly when a company must also consider the potential cybersecurity risks introduced by its partners and vendors.
If you are sharing data with a third party, any personally identifiable information or confidential data should be cryptographically protected. The data can be in clear text for the third party on an as-needed basis based on the principle of least privilege. This is a fail-safe strategy that ensures your data is protected, regardless of whether the third party follows data security and cybersecurity best practices.
My No. 1 tip: Use end-to-end encryption when sharing data. Companies share a lot of sensitive business information with suppliers and partners. They must make sure that this data is always shared with end-to-end encryption so that only the recipient can read the data. This way, businesses automatically reduce the risk of data loss when sharing sensitive information. -
Adopt a zero-trust framework that extends to third-party vendors, requiring stringent verification and access controls for all external partners. By integrating zero trust with regular security audits and real-time threat intelligence, companies can prioritize risks based on the criticality of their operations and the sensitivity of the data being handled, ensuring a responsive cybersecurity posture.
Risk Management Forbes Technology Council
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