Budgetary constraints and labor intensive manual processes typically force companies to carry out 3rd party risk assessment of only the top 10-15% of their ‘riskiest’ list of vendors/third-parties. Spreadsheets, ad hoc questionnaires and outside-in assessment tools provide an incomplete picture of cybersecurity posture.
SAFE provides organisations the visibility into their third-parties cyber risk posture so that informed business decisions like vendor onboarding, M&A, sensitive data sharing etc. can be made. By following this 360 degree approach of third-party risk, organizations can reduce the likelihood of operational failures, data breaches, vendor bankruptcy, and more.