As if managing your own risk profile isn’t challenging enough today, your organization must concern itself with how every one of your suppliers and vendors addresses risk. The days have passed where one flavor-approach works for all—organizations of all sizes must evaluate all the flavors of risk and be prepared for the dangers within their third-party ecosystem.

If your business engages supply-chain partners or outsources anything, third-party risks should be on your radar, and LogZilla is sharing a list of the most critical risk-related questions businesses should use to vet all vendors in their supply-chain network.

All organizations should have the ability to collect all their data, not just what they can afford, which exposes risk. Collect it all with LogZilla NEO and strengthen your third-party vendor relationships.

What are the top strategies to think about as you develop the questions for your third party?

• Did you research their business policies and reputation?
• Did we identify their adherence to regulatory requirements?
• Might they have any lax software and security practices?
• Have they located and patched vulnerabilities?

What Questions Must You Ask Understand Your Vendors Risk Profiles?

Properly vetting your vendors requires asking the right questions, and this begins with an introspective look at your own organization’s stance on risk management. Consider asking any of the following questions when vetting a third-party vendor:

  1. What type of policies, procedures, and processes do you have in place to secure data and follow compliance regulations?
  2. For cloud service providers: Is your security architecture designed using the highest industry standards like FedRAMP?
  3. Can you disclose which regulatory standards your organization complies with?
  4. Do you have agreements in place with your supply-chain holding them to your exact security and privacy standards? Can you provide documentation of these agreements?
  5. Do you have multiple providers and/or other fail-safes for each service you rely on to maintain operations?
  6. If using virtual infrastructure, does your cloud provider have sufficient security mechanisms in place, including individual hardware restoration and recovery capabilities?

As you develop disaster recovery and third-party risk plans, LogZilla can remain the quickest and most efficient centralized log management tool to ensure that all your data is collected, not just some, to best mitigate cyber threats and lower your risk in 2021.

Schedule your 15-minute demo now to see if LogZilla is right for you.

April 12, 2021
Risk Management

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