Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Universities are increasing their reliance on third-party providers for various services, such as electronic health records, telehealth platforms, insurance billing, and mental health support. While these partnerships enhance business operations and save valuable time, they also introduce significant cybersecurity risks.

In today’s modern business environment, nearly every organization partners with at least one third-party vendor or external service provider. Third-party service providers (web-hosting platforms, software-as-a-service companies, and other businesses that provide technology or services as part of a contract) allow organizations to focus on their primary business processes while reducing operational costs.

The simultaneous proliferation of outsourcing and increased interconnectedness of modern businesses has caused the third-party risk management (TPRM) landscape to evolve significantly over the last few years. Establishing a robust TPRM program is no longer just about managing risk across your organization’s third-party ecosystem or gaining an edge over your competitors.

A third-party risk assessment pulls risk vendor risk data to help cybersecurity teams understand how to best mitigate supplier risks. Though the field of Third-Party Risk Management (TPRM) is evolving to prioritize compliance, security, and supply chain risk, third-party risk assessments could also be used to uncover an organization’s exposure to financial, operational, and reputational risks stemming from its third-party network. Learn how UpGuard streamlines Third-Party Risk Management >

Third-party data breaches are growing in prominence across the healthcare sector. In 2022, 55% of healthcare organizations suffered a third-party data breach, exposing the personal healthcare data of millions of individuals to malicious actors. To combat this, healthcare organizations must implement third-party risk management strategies as part of HIPAA requirements to protect patient data and prevent these devastating data breaches.

You understand the importance of a Vendor Risk Management strategy in mitigating the impact of third-party data breaches. However, you’re still unsure about its application to different vendor cyber risk contexts. To help you bridge this application gap and leverage the complete benefits of a Vendor Risk Management process, this post outlines three common examples of vendor security risks and how a VRM program could be tailored to address them. Learn how UpGuard streamlines Vendor Risk Management >

Vendor Risk Assessment processes form the core of a Vendor Risk Management program. As such, the efficiency of a VRM program is ultimately dependent on the design of its risk assessment processes. This post guides you through the design of an efficient vendor risk assessment framework in six steps. By implementing this framework, you can establish an efficient risk assessment workflow built upon a scalable process foundation. Learn how UpGuard streamlines vendor risk assessments >

If you’re new to vendor risk assessments, this article includes a real-life example of service provider risk assessment, helping you understand their structure and the details they entail. Learn how UpGuard streamlines vendor risk assessments >