Mitigating Third Party Risk
Organizations often use third parties to drive business growth, bring in niche expertise or reduce costs. Using third parties enables organizations to focus on their core offering, accelerates delivery of goods and services, and so much more. But while use of third parties may be important from a strategic standpoint, it can come with significant risks, and mitigating third party risk becomes a business imperative.
As regulations continue to grow, organizations are subject to additional risks involving third parties – suppliers, IT support, agents, etc. These regulations hold organizations responsible for the actions of any party doing business on their behalf. The magnitude of these risks are varied and depend on the resources third parties have access to within the organization. Among other considerations, information security risk must be managed carefully to avoid non-compliance, fines, and brand damage.
How We Help
1touch.io Inventa is the premier solution for data discovery and data classification of sensitive data at scale. Privacy regulations require your company to report on which third parties have received personal data from your databases. Inventa helps you manage this process and ensure that you are only sharing the data you are supposed to, whether it be structured or unstructured data.
Another component of mitigating third party risk is providing the business with not only the third-parties with whom you are sharing data, but also the types of data you are sharing. 1touch.io’s Inventa builds an inventory of sensitive data locations. This can help you limit third-party access and gives you visibility over which data is being shared with whom.
Inventa also analyzes data in motion, to ensure that you have 100% visibility over the data that you share with third parties. Should there be an attempt to share additional data outside the scope of a third-party agreement, 1touch.io will alert you in near real-time enabling you to remediate before it is too late.