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As rapidly changing risk and regulatory environments continue to challenge vendor risk management capabilities, the results of the latest Vendor Risk Management Benchmark Study show that:

  • Organizations in all industries are making incremental progress in improving how they manage vendor and third party risks.
  • Governing boards are increasing their level of engagement with cybersecurity risks, an important trend because board engagement continues to correlate highly with self-reported third party risk management practice maturity.
  • A majority of companies plan to de-risk (via exiting or changing) third party vendor relationships that pose the highest risks.
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