“The best way to predict the future is to create it.” – Peter Drucker In today’s uncertain world, businesses are realizing they need strong supply chain strategies to stay in control of their operations. Events like the pandemic, political issues, and economic changes have exposed weaknesses even in well-established supply chains. In fact, 88% of… Continue reading 10 Strategies to Build Effective Supply Chain Risk Management in 2024 and Beyond
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Category: GRC
Vendor Risk Assessment: What is it and How to Conduct It?
Previously, we discussed the key differences between third-party and vendor risk assessments, focusing on external risks. Now, let’s turn our attention to the details of vendor risk assessment, which centers on managing the risks posed by your direct suppliers. A vendor risk assessment is a critical process for identifying and mitigating potential risks posed by… Continue reading Vendor Risk Assessment: What is it and How to Conduct It?
Difference Between Third Party Risk Assessment and Vendor Risk Assessment
Have you ever wondered what sets a vendor risk assessment apart from a third-party risk assessment? It’s easy to confuse them because they sound so alike. In fact, people often mix them up, but they aren’t quite the same. Understanding the difference can change how well your business handles outside risks. Think of it like… Continue reading Difference Between Third Party Risk Assessment and Vendor Risk Assessment
Mastering Operational Risk Management with IBM OpenPages: A Simple Approach
“Failing to prepare is preparing to fail.” This quote from Benjamin Franklin reminds us why being proactive is so important. It matters even more when managing risks in business. Last year, 76% of companies faced major disruptions. These disruptions led to financial losses, downtime, and damage to their reputation. That is why having a strong… Continue reading Mastering Operational Risk Management with IBM OpenPages: A Simple Approach
Top Telecom and Network Regulatory Compliance Risks to Watch in 2024
Federal agencies’ landmark regulations, such as the net neutrality, Truth-in-Billing policy, and robocall and texting guidelines, underscore the importance of risk and compliance management for telcos. Like every other industry, the U.S. telecom sector is a part of the GenAI adoption race, and communications services providers (CSPs) are tasked with providing proof of concept. From… Continue reading Top Telecom and Network Regulatory Compliance Risks to Watch in 2024
Simplifying Financial Compliance Regulation for 2024 with IBM OpenPages
Complying with financial compliance regulations is harder than before. Businesses are in danger of non-compliance with financial regulations such as AML (Anti-Money Laundering), FATCA (Foreign Account Tax Compliance Act), and IFRS (International Financial Reporting Standards), which can lead to costly mistakes and lost time. According to the survey, financial crime compliance in North America cost… Continue reading Simplifying Financial Compliance Regulation for 2024 with IBM OpenPages
An Insider’s View of a BCP Failure: What an IT Manager Wants You to Know?
A business continuity plan (BCP) document is an enterprise IT manager’s crisis playbook. At a deeper level, it provides a snapshot of the IT assets, systems, and processes to be protected at all costs from probable disruptions. In summary, it highlights the importance of keeping the business running during an outage or its impact. As… Continue reading An Insider’s View of a BCP Failure: What an IT Manager Wants You to Know?
The Serious Consequences of Non-Compliance: Lessons from the CrowdStrike Outage
In July 2024, CrowdStrike encountered a situation no company wants to experience. What began as a service outage soon became a much larger issue when it was revealed that they had not fully met industry compliance standards. The potential fines they faced were as high as $46 million. But the financial impact wasn’t the only… Continue reading The Serious Consequences of Non-Compliance: Lessons from the CrowdStrike Outage
Will the Cookie Crumble? Google Chrome Reverses the End of Third-party Cookies (Part 1)
A while ago, there were talks about entirely phasing out third-party cookies in 2024. Google Chrome also restricted third-party cookies to 1% of its browsers. In July, the search engine giant announced reversing its plan to deprecate third-party cookies and continue developments in Privacy Sandbox APIs to enhance user consent and web privacy. Web browsers… Continue reading Will the Cookie Crumble? Google Chrome Reverses the End of Third-party Cookies (Part 1)
The Allure of Healthcare Data: Why is it a Hotbed for Healthcare Cybersecurity Breaches?
Digital health systems and data-driven medical devices enhance performance and care quality in the healthcare industry. However, converting large volumes of personal health data into digital formats for storage and usage introduces several privacy and data security concerns. Healthcare data such as patient information, clinical observations, payment details, prescriptions and treatment records, and personally identifiable… Continue reading The Allure of Healthcare Data: Why is it a Hotbed for Healthcare Cybersecurity Breaches?