Risk Management

In 2023, two of the largest casinos lost access to all system resources after a malware attack on a shared IT support vendor. Similarly, when POS giant NCR lost access to its payment apps, clients’ operations around the country were affected. These examples show why vendor risk management best practices are vital for cybersecurity, operations, … 15 Vendor Risk Management Best Practices To Use

In today’s interconnected, digitally powered economy, minimizing and mitigating vendor risks is vital for financial organizations, healthcare companies, insurers, airlines, and other global enterprises. Industry analysts estimate that nearly half of all businesses will have experienced a software supply chain attack by the end of 2025. The cost of vendor-related threats is on track to … 11 Types of Vendor Risk

The number of risks that organizations must manage has grown significantly over the past decade. A joint report by the AIPCA and North Carolina State University found that over 60% of executives are seeing a higher risk volume — and more complex risks — than ever before. In terms of IT security risks alone, there … A Helpful Guide To Risk Prioritization

Risks have never been more widespread, serious, and damaging to organizations than they are today. From supply chain problems and vendor security vulnerabilities to trade instabilities and natural disasters, the scope and financial impact of risks continues to grow. To successfully predict and mitigate enterprise risks, some organizations have formed a risk management committee. Should … What Is a Risk Management Committee?

Today’s enterprises view risks differently. Instead of reacting to adverse events after the fact, many organizations develop proactive risk management strategies that anticipate threats and avoid or mitigate them quickly. The key to this agile approach? Defining your company’s risk tolerance levels and developing a detailed cybersecurity action plan.  Understanding Risk Tolerance in Cybersecurity Risk … What Is Risk Tolerance?

These days, business risks can emerge suddenly and cause significant damage to operations. For example, a ransomware attack on Ascension hospitals in 2024 paralyzed critical networks, cut off access to patient records, and cost $1.3 billion to remedy. Consumer backlash to brand decisions can be equally swift and brutal. To help your organization adapt, this … 11 Enterprise Risk Examples

Organizations face from all sides, from supply chain dangers to state-sponsored cyberattacks. Fortunately, modern technology also provides more support for enterprise risk management than ever before. Analytics platforms offer insights into personnel activities, compliance goals, adoption rates, and more. What are key risk management metrics today’s enterprises need to track?   What Is a Risk Management … 10+ Key Risk Management Metrics

Whether you’re launching a new product, opening a factory, or storing sensitive data, you can practically count on risks appearing. Just in 2023, there were more than 20,000 cases of compromised business email scams. To navigate this cybersecurity “minefield,” it’s essential to find the right balance of risk appetite vs. risk tolerance. Is there a … Understanding Risk Appetite vs. Risk Tolerance

In today’s complex digital arena, businesses of all sizes face mounting cybersecurity threats. Understanding the interconnected concepts of risk vs. threat vs. vulnerability is the foundation for building a strong defense strategy. To safeguard your organization against the potentially devastating consequences of a cyberattack, you must understand these critical concepts and how they relate to … Defining Risk vs. Threat vs. Vulnerability