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As businesses become increasingly dependent on an effective supplier network, more data must be shared with these suppliers to support business goals and delivery business value. This gives rise to the need for a more robust, next-generation approach to supplier assurance and oversight—especially in the realm of cybersecurity. A robust cyber-assurance program can help you be sure that your business is adequately supported, and that your cybersecurity risks are identified.

The cost of security failure

In 2014 the retail giant Target fell victim to a heinous cyber attack that cost them more than $150 million. The attack originated at the supplier of Target’s air conditioning, and compromised the Target network. In 2017, we are seeing hacking groups evolve and adapt to increasing security within organizations, favoring suppliers of large organizations that may not have similar levels cyber-security sophistication.

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