In the increasingly interconnected and complex world of business technology, many organizations are grappling with the challenges related to insecure integrations and agreements. The rise of technology service models, managed service providers (MSPs) and SaaS apps introduce compliance and risk management issues almost faster than businesses can keep up.
Thus, a new discipline has evolved: third-party risk management.
Risk management is quickly becoming the foundation for most security and compliance standards. And this is for good reason–complex security threats based on modern technology and the interoperability of extensive cloud-based infrastructure aren’t going to be held at bay through ad hoc implementation of technology.
Risk doesn’t have to be an amorphous and ill-defined process, however. Here, we’ll talk about risk management software and what comes with streamlining risk management as part of your business’s overall strategy.
Managing cybersecurity threats is a full-time job, and most cybersecurity specialists rely on shared knowledge between experts in the field to combat these threats. The Common Vulnerabilities and Exposures (CVE) database provides a starting point for this kind of knowledge, centralizing an index of known security vulnerabilities in the wild.
The CVE program recently joined with the Cybersecurity and Infrastructure Security Agency (CISA), which then feeds into new directives for federal agencies and cloud service providers (CSPs). One of these directives, Binding Operational Directive 22-01, establishes this new list and several other requirements for regulated organizations and is trickling down into other security requirements, including FedRAMP.