Third-party cyber risk management describes the process where companies identify, assess, and mitigate the potential cyber security risks associated with the use of their external vendors or service providers. This usually involves ongoing evaluation and monitoring of security controls and practices of these third-party entities. But effective TPCRM doesn’t look the same for every organization.
myCYPR enhances TPCRM by giving organizations a choice in how they vet vendors, with multiple options for assessing and scoring each third-party in their network. myCYPR’s approach to TPCRM is also reciprocal, providing insight and dashboards to all parties involved, ensuring maximum insight and mutual improvement.