DevOps Articles

Why is Cyber Vendor Risk Management (Cyber VRM) Important? | UpGuard

‍https://www.upguard.com/blog/what-is-cyber-vendor-risk-management is the practice of identifying, assessing, and remediating https://www.upguard.com/blog/cybersecurity-risk specifically related to https://www.upguard.com/blog/third-party-vendor. Nearly 74% of organizations reported data breaches resulting from compromised third parties in 2021, signifying the need for strong Cyber VRM solutions.

Vendor Risk Management (VRM) vs. Third-Party Risk Management (TPRM) vs. Cyber VRM https://www.upguard.com/blog/third-party-risk-management is a broader category of risk management that covers all types of risks involved with third parties, including financial, environmental, regulatory, reputational, and cyber risks.

As organizations transition to cloud-based servers and digital services, Cyber VRM solutions are important for businesses to focus specifically on their third-party risk management programs relating to information security practices.

As organizations adopt more vendors, Cyber VRM solutions can help establish a third-party security framework and recommended security controls for their vendor management program.