New research shows that organizations could do more to ensure their business partners and suppliers’ security standards. Here’s where channel partners can help.
81% of IT professionals are confident in their ability to protect sensitive customer data.
47% of respondents are not confident in the security of their business partners and suppliers.
95% of respondents believe a supplier or partner security breach could expose valuable data, yet 61% were unconcerned or have bigger concerns.
44% of organizations require partners and suppliers to pass security audits before they sign a contract with them, 34% do not require them to pass security audits and have no plans to, and 23% do not require audits but have plans to.
However, 34% of organizations use partners and suppliers that fail to meet their security standards.
25% of organizations do not evaluate whether their suppliers meet their security requirements.
65% of respondents said the primary reason for not checking to make sure suppliers meet their security requirements is lack of resources, followed by they haven’t thought about it (33%). Meanwhile, 19% said they don’t see suppliers as a risk to their security.
50% of organizations use the same security standards for all vendors, 26% said they make exceptions for some partners, and 24% said they have clear guidelines for smaller partners.
67% said the biggest impact of a serious data breach by one of its partners is reduced customer confidence, followed by brand damage (59%), fines from a regulator or government agency (44%), loss of contracts (40%) and lower share price (24%). A surprising 20% expect a minimal impact.
83% said the biggest impact of a serious data breach at their organization is reduced customer confidence, followed by brand damage (77%), fines from a regulator or government agency (59%), loss of contracts (56%) and lower share price (32%). Only 7% expect a minimal impact.