Top Challenges in Understanding Vendor Security Risk and How Panorays Solves Them
This past year has been a challenging one for the world at large. In the cyber world in particular, it will be remembered as a year that saw an increase of supply chain attacks, affecting as many as 694 entities. This increase in third-party attacks is not surprising given that companies are utilizing vendors more today than in the past. In fact, the same study found that an average organization has 182 vendors that connect to its systems each week, which significantly expands the attack surface and risk for a supplier breach.
The good news is that companies are now understanding more about the risk posed by their third-party vendors and are doing their best to manage it. However, the challenge is that traditional solutions are manual, not scalable, nor comprehensive enough to do the job right.
Panorays offers an automated, comprehensive and easy-to-use third-party security platform that manages the whole process from inherent to residual risk, remediation and ongoing monitoring. Unlike other solution providers, Panorays combines automated, dynamic security questionnaires with external attack surface assessments and business context to provide organizations with a rapid, accurate view of supplier cyber risk.
In the infographic below, we review the various challenges that companies currently face when assessing supplier cyber risk, the inevitable outcomes if you don’t address those challenges and how Panorays’ platform helps you quickly manage, mitigate and remediate third-party risk.