Third party

New research finds that 47 percent of organizations have experienced a data breach or cyberattack over the past 12 months that involved a third-party accessing their network.

The study, carried out by the Ponemon Institute for Imprivata, also shows 64 percent of respondents believe these types of third-party data breaches will either increase or remain at alarmingly high levels over the next 12-24 months.

As third-party risk continues to be a critical concern for enterprises, the need for effective risk management strategies has never been more pressing.

We spoke with Bob Maley, CISO of third-party risk management specialist Black Kite, to get his insights into effective strategies for managing this challenge along with the nuanced risks and necessary tactics to secure enterprise environments against sophisticated threats.

At the end of 2022, many companies (83 percent) feared a recession in 2023, with 60 percent of enterprise-level and 45 percent of SMB-level businesses preparing by tightening budgets, reducing non-essential spending, renegotiating payment terms and other strategies. Yet SWZD’s 2023 State of IT Report also found that over 50 percent of companies planned to increase YOY IT spending, with budgets expected to grow 13 percent YOY.

That same report indicated that 23 percent of companies had already implemented -- or planned to form -- strategic partnerships.