Vendor-Provided Resources

Managing third-party risks is critical in today’s fast-paced business environment—but it shouldn’t take over your entire day. Imagine a solution that not only streamlines compliance but also makes your day-to-day responsibilities easier, all while positioning you as a trusted expert in front of your leadership.

As global third-party risk assessment methods evolve, important questions arise about the tangible benefits of onsite assessments. While close-up, in-person examinations offer deeper insights through firsthand experience, remote assessments provide flexibility and scalability. Our whitepaper explores the evolution from self-assessed questionnaire-based assessments to validated onsite evaluations, the impact of regulatory requirements, and the future direction of a hybrid approach combining the best of both methods.

An organization's mindset and approach toward managing risks, also known as risk culture, plays a crucial role to manage third party risks effectively. Risk culture is a key element in helping teams work together appropriately to achieve their objectives and maintain performance in unpredictable business environments.

Learn what organizations need to know and do to ensure they have a strong third-party risk culture.

Download the eBook to learn:

• The components of third-party risk culture

• Questions to determine if your organization's risk culture is proactive, neutral, or reactive

• Benefits of a strong third-party risk culture

• How to create a third-party risk culture

This white paper provides a brief overview of how OSINT (Open-Source Intelligence) can identify early warning signs of financial distress weeks or even months before they appear in traditional financial reports. It emphasizes the importance of proactive monitoring for risk mitigation, particularly in today's volatile economic climate.

As we've entered the digital age, new specialities and methods of collaboration have made it easier to work together. But this interconnectedness is not without risk. By relying on others, organizations create a dependency over which they have limited control. Failures experienced by unreliable partners can affect not just a single organization, but also a remarkably large portion of the global economy.

In this report, we draw on Bitsight data from a variety of sources—including third-party relationships, our security scanning technologies, entity mapping, and financial data—to offer a comprehensive picture of the global, digital supply chain.

We uncover:

• The role of “providers,” or organizations that deliver resources and processes (and, spoiler alert, have their own large supply chains)

• There “hidden pillars” of the global supply chain (i.e. providers who serve a small number of consumers but have significant market share)

• How the security postures of each player—including providers, consumers, and products—factor in

• What CISOs or risk managers can do in the face of this complexity

RapidRatings conducted a series of financial health stress tests based on our knowledge of global supply chain structures and country-specific tariff rates, in order to help clients understand the potential consequences of tariffs on their operations.  The Tariff stress test published on Fri 4/11 shows the impact of the 10% universal tariff and rising China tariffs:  Tariffs, Supply Chains, and a 90-Day Window: What Companies Should Be Doing Today | RapidRatings

Financial Health Rating Decline:

🔺 High-risk and very high-risk public suppliers increased by 46%
🔺 Private Co suppliers saw a 92% surge in high-risk classification

🔺 Public companies saw an average 6.1-point decline in their FHR

🔺 Private companies experienced a staggering 13.0-point drop.

Many third-party vendors store, process, access, or transmit your organization’s sensitive data. This data must remain protected. System and Organization Controls (SOC) reports let your organization evaluate the vendor’s internal controls to protect data.

A SOC report is an independent audit, offering assurance of the vendor’s practices and identifying potential risks. Due to the SOC report’s technical language, they are challenging to review and evaluate. This eBook will help you understand what to look for in your vendor’s SOC report.

As outsourcing becomes increasingly popular, supply chains have extended around the globe. This can increase your organization’s competitive appeal, boost the bottom line, create operational efficiencies, and provide the best product or service to your customers.

However, outsourcing to international vendors adds new complications to identifying and managing vendor risks. International vendors require additional considerations and activities to effectively manage the risk.

Download the infographic to learn: 

• Considerations for international vendors 

• Due diligence for international vendors 

• Contracting tips for international vendors

Risk assessments are key to managing third-party risk. They help organizations spot potential threats and decide how much oversight vendors need. By evaluating a vendor’s risks and controls (the safeguards and measures used to reduce or manage risk), risk assessments show which vendors pose the highest risk and what steps are needed to mitigate those risks. 

Understanding inherent risk and residual risk is essential for making informed risk decisions. This eBook breaks down these key concepts and shows you how to assess them as part of your third-party risk evaluation process. 

Download the eBook to learn: 

• What is inherent and residual third-party risk 

• How to measure inherent and residual third-party risk 

• Categories of inherent risk 

• How to mitigate inherent third-party risk

• Best practices for inherent and residual risk ratings

Free access to selected data sets from Bitsight's Internet scanner (similar to Shodan). From global footprint to vertical breakdown to top vulnerabilities. There is a lot of helpful information for third-risk teams!

The latest global supply chain risk report, this was conducted by our dedicated research team using proprietary scanning technology and the data it captures.

Highlights:

📊 U.S. supply chain heavily relies on Chinese military-linked firms
📊 Niche vendors ("Hidden Pillars") power entire industries—yet may remain vulnerable
📊 Providers have 2.5x larger supply chains compared with the consumers they serve

No other industry has changed the face of global business quite like technology. Because technology evolves so quickly, companies must constantly evaluate and onboard new third parties to consistently drive innovation.

Download this infographic to learn more about:

• A growing threat landscape

• How technology protects… technology

• Outcomes when using third-party management