Cyber risks have to be considered carefully when evaluating a company’soverall risk profile. The number of serious cyber-attacks in the last few years prove that no business is safe, regardless of size, industry, market or country. The threat of a supply chain attack is significant in modern organizations mainly due to globalization, decentralization and outsourcing.
Understanding in advance if a partner or a potential partner could be at risk is crucial for every company. A cyber-attack or a data breach causes business and reputational damages, as well as regulatory and compliance issues.
A cyber-attack not only impacts suppliers as victim of the attack itself but also customers who find themselves having to source a new supplier which isn’t always a simple and quick task.
For these reasons it’s important businesses understand in advance if a partner or potential partner are vulnerable to a cyber -attack. It’s standard practice to analyze business partners from a financial point of view, but now more than ever it’s crucial to understand the cyber risks the company may face as well.