The rapid adoption of cloud, in-house application development and open-data initiatives have been instrumental for business-enablement. However, this new data-centric world has also increased the complexity of managing cyber security risks to business and people alike. In response: new privacy laws, security standards and regulatory compliance have necessitated the need for companies of all sizes to create a robust security program to manage cyber risk and compliance, effectively.
Established security and compliance programs are now including cyber security assessments of third-party suppliers as part of their procurement process. While there is a net benefit to this new security paradigm, companies without a formal security program are being caught off guard and consequentially losing business.Read More