Sourcing Monthly July 2021 – August 2021
This month, discussions regarding security threats to third party suppliers have been prominent. With malicious actors targeting new technologies and work methods, it has become critical for customers to assess and conduct ongoing reviews of third party supplier security prior to establishing partnerships, particularly critical systems providers. A rigorous security strategy and ongoing maintenance is required to safeguard customer data and internal systems. Third party suppliers require the ability to deal with irregular activities, as well as technical controls and policies that correlate with their customers. Supplier vulnerabilities can result in operations and compliance risks, necessitating professionals to develop, implement and audit third party risk management strategies and processes. It also requires security professionals to conduct ongoing audits, establish plans for third party incident responses, and the implementation of restricted access mechanisms. Customers can strengthen their resistance and attack containment mechanisms with professionals to help detect, analyse, contain, and respond to security threats.
About The Advisor
Irene Pimentel is an IBRS analyst who focuses on news and information on the global IT Outsourcing market. Irene provides IBRS clients with up to date information on all outsourcing deals that are taking place helping our clients understand who is winning business in what markets. With over 10 years experience as a management consultant, Irene has worked with some of Australia's largest blue chip companies and public sector organisations. Irene has also worked as a research manager for an IT sourcing consultancy, providing clients with targeted intelligence and advice for their specific IT sourcing transactions.