Supply Chain Threats: It’s Time For A New Approach
Vendors in the supply chain play a critical role in helping organizations operate and compete in our global economy. In fact, the average company shares confidential information with 583 parties, according to a Ponemon Institute study. While these relationships are critical in enabling businesses, they also exponentially increase an organization’s attack surface.
Traditional Methods Are Failing To Stop Supply Chain Breaches
In the past year alone, 80 percent of organizations have suffered a third-party related breach in the past year. If your vendor is compromised, a threat actor has the potential to attack your information systems using stolen credentials, steal your sensitive information, and disrupt business continuity. Despite the magnitude of these potential threats, most organizations rely on traditional methods like vendor questionnaires. While these methods have value, their static nature fails to capture how a constantly evolving threat landscape impacts your supply chain ecosystem.
We Need A Threat-Focused Approach To Supply Chain Risk Management
When your vendors are hit by ransomware, infected with malware, or are vulnerable to attack, you need to know quickly so you can take immediate action to mitigate damage. A security rating or monthly report won’t notify you of real-time threats, and they certainly won’t stop a breach from happening.
How do we identify these threats in a timely manner? One approach is to employ intelligence. Third-party intelligence continuously monitors key data sources for signs that your suppliers have been compromised (even before they realize it) or may be attacked in the near future. By providing comprehensive visibility into the wider threat landscape, third-party intelligence allows you to stay ahead of new threats. This enables you to accurately assess risk posed by your vendors and keep assessments current as conditions change and new threats emerge.
Learn How To Build A Threat-Focused Supply Chain Risk Program
Rethinking how we manage vendor risk is easier said than done. Thankfully, we’ve done the work for you. Read our new eBook, “The Security Team’s Guide to Supply Chain Threats” to learn more about:
- Why it’s critical for organizations to start treating supply chain threats as part of their core attack surface
- What a threat-focused approach to supply chain risk management is and why you need one
- How to develop a successful threat-focused program
- Recorded Future’s approach to supply chain risk management
- How customers are using intelligence to achieve better business outcomes