This benchmark study, independently conducted by the Ponemon Institute and sponsored by Opus, explores the increasing data risk posed by outsourcing relationships.
Now in its second year, the study examines the many challenges companies face in protecting sensitive and confidential information shared with third parties and their subcontractors and identifies governance and IT security practices that can be implemented to significantly reduce the likelihood of a third-party data breach.
of respondents experienced a third party data breach... a 7% increase over last year
And Data Breaches Cost...
than ever. According to Ponemon's 2017 Cost of Data Breach Study...
On Average, U.S. Companies Pay
Per Breach in fines, remediation costs and loss of customers - up 10%
an inventory of all third parties with which they share sensitive information
don’t know if third parties’ policies would prevent a data breach
only 18% know if sensitive information is shared
feel they’re highly effective at mitigating third-party risks, down from 22% in 2016
feel unprepared to check or verify their third parties,
down from 66% in 2016
respondents now have an owner of their third-party risk program
respondents said their boards are more involved in third-party risk management programs
that have strong correlations with the reduction of data breaches
Download the 2017 Data Risk in the Third Party Ecosystem Study from Ponemon Institute
Businesses are all too aware that cyber crime is increasing in frequency and reach. Learn how Opus' information security solution can free up your specialists to concentrate on what is important - more accurate risk assessments across all your third party relationships.
Opus partnered with educational GRC think-tank OCEG to bring you this comprehensive yet concise process map of how you can apply third party information security policies, processes and technologies across your enterprise. Learn how to verify, remediate where necessary and monitor the effectiveness of third party controls, using sophisticated and mission-designed technology.
Whether you're a chief information security officer (CISO), IT vendor risk professional or a compliance business leader challenged with rapidly changing regulations, you know the damage a single data breach can cause to your stock price, revenue and reputation... and third parties are a huge risk. Learn how to manage and respond to third-party information security risks faster and more easily than ever before with Hiperos 3PM Information Security (InfoSec).
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