5 Ways to Step-Up Your Business Resilience with Better Third-Party Management
The Apache Log4j vulnerability, SolarWinds, and the Colonial Pipeline ransomware attack have highlighted the need for greater business resilience as it relates to third parties. It is no longer a question of IF a high-impact event that affects a third party takes place, but WHEN? Many organizations already have Business Continuity and Disaster Recovery plans in place to address resilience. But many of those plans don’t focus enough on the potential impact a third party can have on business operations. And what about your third parties themselves – do they have business continuity and disaster recovery plans in place? Are they ready for a ransomware attack? How will they respond?
Now more than ever, it’s time to refocus on your third parties to understand how they are hindering (or helping) your business resilience. With the increased role of third parties in business-critical activities, the bottom line is directly affected by third parties.
So, how can your organization work with third parties to improve business resiliency? In this webinar, we will discuss:
- Best practices to strengthen resilience and mitigate third-party risks
- How to engage first lines of defense in managing third-party risks
- How to prepare for a worst-case scenario and plan an exit strategy