Key TPRM Challenges for InfoSec Teams
- Staying ahead of the cybersecurity curve: Every day, novel cyber threats creep into the digital space. However, not all third parties have the sufficient expertise or robust systems in place to detect and counteract these threats. This gap in their defenses can pose a significant risk to your business continuity.
- Managing a surge in workload: The exponential growth of data, the shift towards cloud computing, and an increase in regulatory compliance demands necessitate comprehensive risk assessments across a larger pool of third parties. But without a corresponding increase in resources, the pressure on your infosec personnel amplifies.
- Navigating the complex regulatory landscape: Compliance management across various jurisdictions can be daunting due to specific local regulations. For instance, several regions/countries enforce their unique data privacy and data sovereignty rules, which further complicates the scenario, especially in a constantly evolving regulatory environment.
- Dealing with third parties’ lack of investment in security: Notably, many third parties fail to prioritize investments in security infrastructure and resources, which can potentially expose your business to cyber risks.
Understanding these challenges is the first step towards addressing them. Now, let’s explore how ProcessUnity can effectively mitigate these risks and bolster your third-party risk posture.
How ProcessUnity Helps
ProcessUnity offers a robust, scalable solution to help your InfoSec team effectively manage third-party risk. Here’s how we tackle your key challenges:
- Combatting Emerging Cyber Threats: ProcessUnity’s platform is equipped with advanced threat intelligence capabilities. This allows your team to stay ahead of the curve, identifying and responding to new cyber threats swiftly and efficiently. We provide the tools necessary for third parties to bolster their cybersecurity defenses, reducing risk to your business continuity.
- Managing Increased Workloads: Our solution automates the risk assessment process across your third-party portfolio, dramatically reducing the workload for your InfoSec staff. By streamlining workflows, your team can focus on strategic risk management activities, rather than getting bogged down with manual tasks.
- Simplifying Compliance Across Jurisdictions: ProcessUnity offers a comprehensive regulatory compliance framework that adjusts to the requirements of various jurisdictions. Our platform is continually updated to reflect any changes in the regulatory landscape, simplifying compliance management and ensuring you stay on the right side of regulations.
- Encouraging Third-Party Investment in Security: ProcessUnity provides clear and quantifiable insights into a third party’s cybersecurity risk, encouraging them to invest in necessary security infrastructure and resources. By demonstrating the potential risk and impact of insufficient security, third parties are more likely to prioritize their cybersecurity investments.
With ProcessUnity, your InfoSec team is empowered to manage third-party risk effectively, protect your business, ensure regulatory compliance, and ultimately, steer clear of the perils of the digital landscape. To learn more about how ProcessUnity can revolutionize your Third-Party Risk Management process, please contact us today.