SmartThink™ LLC specialises in IT governance, risk management and compliance solutions, with a special focus on cyber resilience, data protection, the GDPR, the Payment Card Industry Data Security Standard (PCI DSS), ISO 27001 and cyber security.
Are vendors more trouble than they are worth?
Are vendors more trouble than they are worth? Data breaches at vendors and other third-parties continue to have a high profile in the news. In today’s environment, it would be nearly impossible to find a company that doesn’t contract with a vendor. But the convenience and flexibility of outsourcing to third parties comes with significant risks, including the potential for regulatory penalties related to vendor incidents – penalties that have soared in recent years, costing institutions billions of dollars.
Preventing risk events at third party service providers has always been a challenge, but now the stakes are far higher. Over the past three years, the number of security incidents at companies attributed to partners and vendors has risen. SmartThink provide effective and efficient Third-Party Assessment (TPA) program to ensure it provide benefits to various facets of the enterprise. We offer a range of services with various entry points through the TPA lifecycle, helping clients assess their current state programs and develop a roadmap for designing, building, and improving their current programs.