Managing cyber risks from partners and suppliers is a demanding and precise task. Not addressing these challenges can have serious consequences, ranging across the spectrum of financial and reputational risks, ultimately impacting your company’s long-term success. While there are vendor monitoring solutions in the market, they often fall short of meeting the strict requirements of effective risk management. In this blog post, we highlight three of the most significant problems that require urgent attention, and how Sling can assist companies in avoiding these risks at all costs.
Lack of Visibility in the Supply Chain:
While companies routinely prioritize the security of their supply chains as a necessity, they continue to struggle with the challenge of achieving real-time visibility into the hidden cyber risks within these chains. Consequently, if companies lack visibility into their supply chains, they may be vulnerable to cyber incidents originating from vendors. From data breaches to operational disruptions, the outcome of inadequate supply chain security can be extensive.
To tackle this issue, Sling prioritizes continuous real-time updates. In the cyber world, there is a brief window between recognizing a vulnerability and its potential exploitation, where every moment is of significant value. Acting fast in the face of potential threats, such as data breaches and operational disruptions, can make all the difference in safeguarding your assets and reputation.
False Positives (Noise) in the Supply Chain:
A common challenge in the management of cyber risks is the persistent and overwhelming flood of false positives. An inbox swamped with alerts significantly complicates the task of distinguishing genuine threats from unwanted noise. Dealing with this issue not only consumes valuable resources but also affects an organization’s ability to respond effectively to real dangers.
Sling utilizes automation mechanisms to filter out irrelevant cyber risks and digital assets during the risk assessment, and ranks the remaining ones by severity (Critical, High, Medium, Low, and Information) based on an in-house mechanism. This approach is oriented from the attacker’s perspective, considering the likelihood of exploitation by an attacker and its potential impact to the network. The enhanced visibility empowers organizations to make informed decisions, allocate resources efficiently, and strengthen incident response capabilities while mitigating false positives.
Communication Channels in the Supply Chain:
As supply chains are becoming more complex, it is necessary for companies to maintain direct communication with dozens of contacts. As a result, many cyber issues remain unresolved while data continues to flow, and can create weak spots that cybercriminals may use to access a company’s sensitive data. It’s vital to provide a reliable method for alerting vendors to critical issues and maintain straightforward communication channels between businesses and their partners. This emphasizes the importance of quick identification and resolution of vulnerabilities through efficient communication.
Sling simplifies communication channels by allowing you to add vendors quickly and download reports in an instant. This streamlined approach complements our focus on addressing the cybersecurity challenges mentioned earlier, enabling companies to enhance collaboration and consistency with their partners and suppliers while ensuring swift and efficient management of their supply chain security.
Sling’s actionable third-party cyber risk management, can help you enhance visibility, reduce false positives, and improve communication channels within your supply chain. In conclusion, addressing the challenges associated with managing cyber risks from partners and suppliers is vital to the success of today’s businesses.
