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Have you completed your Cybersecurity assessment and is it up-to-date?
As modern businesses use the internet to conduct business, one of the utmost concerns for product and business owners is information security. Data stands as the most critical asset in the present era.
Needless to say, that this will be a cumbersome task by itself and more is required for the assurance of partners, delivery and risk mitigation. The B2B enterprise marketplace enables you to intelligently identify and successfully engage with verified partners who meets your preferred capabilities, regulatory requirements, specifications and budget.
Whether you are a provider or a consumer, a secure B2B Enterprise Marketplace strategy is critical in optimizing and scaling your business and opening up new opportunities and pipelines with trusted partners.
- Does the stress of sensitive data loss through a 3 rd party keep you awake at night?
- Are you feeling overwhelmed about completing the Cybersecurity risk assessment?
- Do you deliver products or services online?
"Over 78 percent of the companies worldwide are not confident about their cybersecurity posture," highlights Forbes, in line with a popular IDG survey report." At Sourceably, advisors can help you understand and improve your cybersecurity posture. Our Sourceably assessments can pinpoint the areas of strength and weaknesses to successfully engage with enterprise partners and improve your ability to meet their cybersecurity expectations..
1. Information security management helps safeguards your reputation in the marketplace. Keeping your CyberSecurity standards up-to-date minimizes the risk that your reputation will be damaged or partners will pass you over because of concerns over operations security. The ability to demonstrate good cyber health is important to your viability as a business partner.
2. Reduces the possibility of data breaches and damage to your organization The 2020 Internet Crime Report from the FBI underlines that data breach resulted in losses exceeding $4 billion in the US. Noted advisories from agencies like CISA have also highlighted some common vulnerabilities and exposures widely exploited in entities globally, particularly with the surge in remote working systems and use of 3 rd party vendors.
3. Lowers the risk of legal prosecution and penalties As an organization functioning using online platforms, violation of the provisions of the data protection laws can result in hefty penalties from government agencies for yourself and your partners leading to significant losses to your business. Do you have an understanding and ability to comply with Privacy laws?
For instance, non-compliance with Europe's GDPR (General Data Protection Act) regulations can lead to penalty and fines that are higher than 4 percent of your entity's global turnover or a minimum of €20 million. Similar laws are on the books in North America and should be understood, especially if you are doing business in California, New York, Massachusetts and Canada. Click here to read more about the Privacy and compliance laws coming up.
