As the Internet of Things (IoT) evolves, it will offer organizations the opportunity to create an unprecedented range of potential products and services. By embedding the internet into computer systems inside of cars, appliances, and other physical things, manufacturers will be able to offer new functionality as well as additional services. Smart homes and intelligent cars are already on the consumer market in many countries. Applications for this technology in a business-to-business environment are equally promising.
September 05, 2017 posted by Aravo
Topics: third party risk management, Data Security & Privacy, GDPR, information security, cybersecurity, cybersecurity regulation, cyber-security, cyber risk, cyber regulation, internet of things, IoT
August 16, 2017 posted by Aravo
Scorecards that measure the performance of suppliers and vendors that a company contracts with have been a business tool embraced by procurement for some time now.
However, there’s an evolution underway. Increasingly businesses are recognizing that a holistic third party scorecard that also embeds risk and compliance metrics, can not only help drive continuous improvements in vendor performance, but can also help reduce the risk that third party engagements may bring to the enterprise. What’s more, scorecards can also be leveraged as a collaborative tool to help raise the collective bar of the third party ecosystem – especially in areas such as IT security. Operational risk, Information Security and Compliance are all now stepping up to the scorecard plate.
Topics: risk and compliance, third party relationships, Data Security & Privacy, information security, reputational risk, regulatory risk, risk-scoring, third party risk, data privacy, performance scoring, organization risk, regulatory compliance
August 02, 2017 posted by Aravo
Cyber and information security is considered by some to be the biggest challenge organizations collectively face today. A recent study conducted by Juniper Research predicts the cost of data breaches to reach $2.1 trillion globally by 2019. These incidents – whether they are caused by criminals, foreign governments, or hacktivists – can be costly for organizations, distressing for consumers, and create the possibility of real systemic damage to whole industries; even nations. So, it’s hardly surprising that regulators and legislators around the world are moving into action.
March 01, 2017 posted by Aravo
In a sign of what may well be coming for all highly-regulated industries around the world, US financial services regulators are in the process of significantly enhancing their cybersecurity rules, including substantial new rules impacting third party relationships.