IT Vendor Risk

IT Vendor Risk refers to the potential threats and vulnerabilities that arise from the third-party companies providing technology services or products to an organization. When businesses rely on these vendors for software, data storage, or IT support, they must consider the risks associated with these partners, such as data breaches, service interruptions, or compliance failures. Effective Technology Risk Management involves assessing and managing these risks to ensure that the organization’s data and operations remain secure and reliable while working with external suppliers. It’s about safeguarding the company’s assets in a interconnected business landscape.