Member Article

ITC Secure unveils industry’s first managed third-party risk monitoring service

Real-time monitoring and alerting reduces supply chain cyber security risk

ITC Secure (ITC), the specialist cyber advisory and managed security service provider (MSSP) has launched the industry’s first fully managed third-party risk management (TPRM) and response service. Designed to provide visibility across supply chains and identify and quantify the risks posed by partners and suppliers, this service gives organisations the ability to define, monitor, and respond to increasing threats from third-parties.

Businesses are increasingly dependent on vendors, partners and contractors, creating new levels of integration and trust where data and network connections are shared. According to Ponemon, 65% of company breaches originate from these third-parties, posing such a significant risk that the UK’s National Cyber Security Centre (NCSC) has recently identified it as one of the top five questions boards should be addressing in its Board Guidance Toolkit.

“Third-party cyber security risk across the extended supply chain is a real and serious issue. As such, visibility of the extended supplier base is key to minimising the risk of a cyber-attack” said Arno Robbertse, Director of Cyber Advisory at ITC Secure. “An organisation’s security is only ever as strong as its weakest link, and many of those weaknesses are found within the supply chain – just look at recent big-name breaches over the last couple of years”

The new service from ITC Secure provides an ‘outsider view’ of third-party suppliers, reviewing systems, processes and infrastructure to create objective security scores on a monthly basis. Combined with real-time monitoring of alerts including detailed information and suggested response, companies can work with partners to address and remediate any issues quickly and accurately, getting to the core of the problem before the cyber criminal strikes.

Robbertse continues, “Understanding and mitigating the risk to your business is imperative but maintaining continuous visibility of the supply chain and improving partner security demands high resource commitment and specialist analysts – expensive overheads for any organisation. With the level of insight provided by our Third-Party Risk Management service and backed up by the specialist skills of our advisors, companies can effectively manage their supplier risk and mitigate against the latest threat vectors before it’s too late.”

This was posted in Bdaily's Members' News section by ITC Secure .