Securing the Supply Chain
Managing supply chain cyber risks is a critical enterprise agenda, imperative in today’s dynamic business landscape.
Why transform your supply chain cyber risk programme today?
Recent vendors’ security incidents - including ransomware - have impacted business operations. And now, regulatory guidelines are mandating vendor disclosures on managing incidents. As such, Supply Chain Risk Management (SCRM) is a topic being discussed at board meetings worldwide.
Companies continue to rely heavily on suppliers, so organisations are increasingly onboarding vendors at a faster rate. The threat landscape is expanding beyond the traditional perimeter, exposing companies to a wide range of risks. Meanwhile, operations staff are overwhelmed, and organisations continue to face a shortage of security risk practitioners.
Companies grapple to evaluate their supply chain risk because most current assessments are point in time. Plus, most SCRM is still operating in a siloed manner with no clear accountability within the organisation. Companies must improve vendor responsiveness towards ongoing risk remediation and take action.
Supply chain cyber risk can be categorised by three types of breach
First party via service
A customer suffers a breach as a direct result of a supplier of theirs being breached: The attacker is able to move laterally from the supplier’s network to the customer’s network, and the supplier holds data of the customer, which is compromised.
First party via software
A customer suffers a breach due to a vulnerability in a third-party product, either within the customer’s own environment or within a supplier’s environment.
Third Party Risk
A cyber attack hits a core supplier that prevents them from delivering products or services to a customer, resulting in disruption to the customer’s own ability to operate.
The ISTARI Approach
We leverage best-in-class technology capabilities and leading practices and bring advisory experience to transform your SCRM through our advisory-led modular and scalable solution.
Through our modular approach, we help our clients take clear actions to transform their SCRM programmes and manage cyber risks.
We will help you gain comprehensive visibility of your risks and be able to prioritise the risk criticality of your vendors. We help organisations eliminate the siloed approach for managing supply chain risk by aligning risks to Enterprise Risk Management and overall business objectives.
Phased maturity journey
VISIBILITY
Get visibility of the supply chain
Establish risk tiering and set up continuous risk monitoring solution for critical and high-risk vendors
TRANSFORM
Enhance programme capabilities
Improve the risk management process, enhance the assessment questionnaire and establish governance structure
REMEDIATE
Achieve risk reduction outcome
Accelerating assessments, ongoing risk remediation and continuous monitoring
Benefits of an automated & continuous programme
Continuous monitoring and remediation in the supply chain for externally visible vulnerabilities is critical. Benefits include:
1.
Reduced headcount through automation
2.
Reduced risk through threat & vulnerability monitoring
3.
Reduced cost & increased efficiency through automation
Managing supply chain risk across the ecosystem
ISTARI’s cyber risk management approach is built on transformation. We pride ourselves on not just performing your assessment but building the foundational components and implementing them, too. Our adaptable and modular approach across three phases gives you the flexibility to fix tactical problems while uplifting capabilities for the entire ecosystem.