Key Factors to Evaluate When Selecting a Cloud Backup Provider

Posted on October 21, 2024 by Brent Huston

The rise of cloud storage solutions presents companies with numerous options for securing their data, but choosing the right backup provider can be a daunting task. The implications of this choice can affect not only data security but also business continuity.

Selecting a cloud backup provider involves more than just comparing prices; it requires a comprehensive evaluation of various factors that align with your organization’s unique needs. Key considerations include security measures, integration capabilities, and the terms outlined in service-level agreements. Understanding these elements can help organizations make informed decisions that ultimately safeguard their critical information against unforeseen events.

This article explores the key factors to evaluate when selecting a cloud backup provider, offering insights into how businesses can secure their data effectively and efficiently. From identifying business needs to assessing provider reputation, we aim to equip you with the knowledge required to make an informed choice that guarantees the safety of your data.

Understanding Your Business Needs

Understanding your business needs is the first step in developing an effective data backup strategy. It’s crucial to identify your specific objectives to ensure the backup strategy aligns with your organizational goals. Start by clearly defining what data will be backed up, how often these backups will occur, and where they will be stored. This clarity helps streamline the backup process and enhances the protection of critical information.

Tailor your backup plan to fit your unique business requirements. A generic approach might leave you vulnerable to data loss and recovery challenges. Additionally, consider establishing data retention periods based on your business needs and regulatory requirements, which will help in achieving compliance and optimizing data management.

Implement strong data security measures, such as encryption, to protect sensitive business information within your cloud backup solution. Security is vital to prevent unauthorized access and potential data breaches. By understanding and addressing your business-specific needs, you lay a solid foundation for a robust backup system.

Security Measures

Selecting a cloud-based backup service requires a keen focus on security measures, as over 60% of businesses have expressed concerns regarding the safety of their data in the cloud. Cloud providers deploy robust security protocols, including encryption, to safeguard against unauthorized access and cyber threats. These measures are crucial, especially since data stored in the cloud can be accessed from virtually any location, thus necessitating stringent security to mitigate risks associated with remote access. A well-configured backup system also ensures compliance with data retention policies, protecting sensitive information and adhering to legal requirements. Integrating cloud backup services into your security strategy is essential for enhancing data protection and preventing potential breaches.

Ensure Support for Unique Credentials Different from Corporate Credentials

To protect your data, ensure that your cloud backup provider supports Single Sign-On (SSO) through the Security Assertion Markup Language (SAML), allowing seamless integration with your company’s identity providers. This approach enhances user access security management, while the compatibility with Open Authorization (OAuth) ensures secure delegated access to applications without sharing user credentials. Adding layers of protection such as Multi-Factor Authentication (MFA) and Two-Factor Authentication (2FA) is crucial during the authentication process. Implementing robust in-app security practices, including intrusion detection, is essential when using unique credentials, following the least privilege principle to minimize unauthorized access risks. Safeguarding internal credentials ensures attackers cannot exploit them to tamper with your backups.

Data Encryption

Data encryption is vital for safeguarding backup data, particularly when stored offsite in cloud backup services. Many cloud solutions encrypt data before storage, providing a protective layer against unauthorized access. Employing strong encryption algorithms, like AES 256 and SSL, ensures robust data security during both transmission and storage. Transparent communication from cloud backup providers regarding their encryption methods and algorithms fosters user trust and understanding of their data’s security. Encryption is not only a security measure but a compliance necessity, especially in regulated industries like healthcare, where standards such as HIPAA require stringent protection of sensitive data.

Compliance with Regulations

Adhering to compliance regulations is imperative for safeguarding sensitive data and avoiding legal consequences from data breaches or violations. Properly configured backup systems support organizations in meeting data retention policies, securely storing data for required durations. Selecting vendors who comply with privacy and security regulations is crucial, particularly in industries with rigorous standards. Compliance efforts help shield data and bolster overall security by implementing measures like data encryption. Integrating robust security protocols, including encrypting data both in transit and at rest, is essential for preventing unauthorized access and maintaining secure backup processes.

Integration Capabilities

Selecting a cloud-based backup service for small businesses requires careful consideration of integration capabilities. A comprehensive approach that consolidates local storage, cloud services, and backup components into a unified all-in-one system is recommended. This approach, which includes bundled software, hardware, and cloud solutions, enhances the reliability of data continuity. Additionally, testing cloud backup services across all platforms—public, private, and on-premises virtual infrastructures—is crucial to ensure they function properly and are adequately supported. Careful configuration of backup software can prevent errors, especially when integrating legacy systems with modern cloud providers. Ensuring seamless communication across middleware tools is essential for effective data protection.

Compatibility with Existing SaaS Applications

Integrating cloud backup services with existing SaaS applications is critical for safeguarding data against unauthorized access and accidental deletion. SaaS applications, such as Microsoft 365 and Salesforce, play vital roles in daily operations, emphasizing the need for advanced third-party tools to enhance data protection. Effective integration facilitates easy access to backup data, enabling seamless recovery processes. Traditional backup solutions often fall short in SaaS environments; thus, modern tools designed for better control and flexibility are necessary. It’s also important to optimize backup strategies for containerized environments to address the unique challenges associated with shifting and scaling workloads within SaaS applications.

Automation and Backup Frequency

Automation is key to successful cloud-based backup strategies. Utilizing automation tools and scripts to schedule regular backups ensures a consistent and reliable data protection strategy. Automating routine backup tasks reduces the risk of human error, common in manual backups. A regular, automated backup schedule helps capture the latest data versions effectively. Moreover, automated processes allow proactive monitoring of backup jobs and performance metrics, enabling prompt issue identification and resolution. Regular testing of backups through automation also verifies their restore capabilities, providing alerts if problems arise, thus maintaining business continuity.

Service-Level Agreement (SLA)

When selecting a cloud-based backup service, it is crucial to assess the service-level agreement (SLA) provided by the cloud backup provider. The SLA outlines the expectations for service reliability and performance, including historical uptime and consistency of access to backups. Data security practices, such as encryption protocols and access controls, should be thoroughly reviewed within the SLA to ensure your data is protected against unauthorized access. Ensuring compliance with relevant regulations and standards in the provider’s SLA is essential to avoid potential legal issues.

Understanding the provider’s backup frequency, retention policies, and recovery options is critical for evaluating their data recovery capabilities. These aspects are typically detailed in the SLA and directly affect business continuity plans. Additionally, scrutinize the customer support options mentioned in the SLA to guarantee that you’ll receive adequate assistance whenever necessary. Reliable customer support is vital for efficient recovery processes in case of a data loss incident.

Uptime Guarantees

Reliable cloud backup providers offer SLAs that guarantee a high percentage of uptime, ensuring your data remains accessible whenever needed. When evaluating cloud backup services, uptime guarantees are vital as they impact business continuity, especially during data recovery processes. High uptime performance levels reduce potential downtime and the risk of revenue loss, highlighting the importance of strong uptime commitments from providers.

Understanding pricing models should encompass the provider’s uptime record, reflecting their overall reliability. By selecting a provider with robust uptime guarantees, businesses can safeguard against data loss incidents, enhancing operational stability and ensuring peace of mind. Solid uptime commitments contribute significantly to improved business resilience and continuity, especially in the face of natural disasters or unexpected disruptions.

Data Deletion Policies

Data deletion policies play a critical role in determining how and when data is removed from backup systems. These policies are essential for complying with regulatory requirements and ensuring sensitive information is not stored longer than necessary. Regular monitoring and updating of data deletion policies are necessary to keep pace with evolving legal requirements and business practices.

Clear definitions of retention periods for backups, influenced by data deletion policies, ensure compliance with both regulatory requirements and business needs. Implementing strict data deletion practices mitigates the risk of data breaches by ensuring obsolete data is not retained in cloud backup systems. Effective data deletion policies not only aid in compliance but also optimize storage utilization, enhancing the efficiency of cloud backup solutions.

Scalability of the Solution

Scalability is a key advantage of cloud backup solutions for small businesses. These services allow businesses to pay only for the storage space they use, making it easy to adjust plans as data needs change. This flexibility is essential for growing businesses, enabling them to seamlessly increase storage capacity without significant infrastructure changes.

A scalable cloud backup solution also eliminates the risk of running out of storage space during critical operations. Businesses can swiftly adapt to seasonal fluctuations in data volume by choosing flexible storage plans, ensuring cost-effective and efficient data protection. Such scalability supports business continuity by aligning data protection strategies with growth and evolving technology demands.

Cloud solutions offer peace of mind by providing a reliable and adjustable backup system that can grow with the business. This adaptability ensures that any increase in data storage requirements is met without disruption, maintaining smooth backup processes and data accessibility at all times.

Cost-Effectiveness

Cloud backup solutions are generally more cost-effective than traditional on-premises systems, primarily due to their lower initial expenses. Unlike the hefty upfront costs of hardware and software for on-premises setups, cloud solutions require only ongoing subscription fees. This makes them particularly appealing to small businesses looking to minimize startup costs while securing their data effectively.

Balancing cost with value is essential when choosing a cloud backup service. Rather than opting for the cheapest option, businesses should prioritize services offering critical data protection features. The affordability of cloud backups can greatly offset potential losses from data breaches, ensuring peace of mind for business continuity.

Analyzing Pricing Structures

Cloud backup providers offer diverse pricing models tailored to different business needs. Options often include tiered packages based on storage capacity, flat rates for unlimited backup, and customized plans. The pricing typically scales with the amount of data stored, meaning businesses with larger data needs may face higher costs.

Advanced features such as continuous backup or extended data retention might incur additional charges. Additionally, some services charge based on the number of devices backed up, influencing overall expenses. It’s vital to consider these factors, ensuring that the selected plan offers valuable features without unnecessary extra costs.

Hidden Costs to Consider

When evaluating cloud backup solutions, it’s important to be aware of potential hidden costs. Although cloud services often appear budget-friendly, factors such as third-party storage targets and infrastructure as a service (IaaS) offerings can add to overall expenses.

Moreover, additional fees for advanced features like continuous backup further impact the budget. The key is to find a balance between necessary features and cost, avoiding pitfalls that might lead to overspending. Planning and understanding long-term costs—including potential increases as storage needs grow—can help businesses manage their budgets effectively in the long run.

Provider Reputation

Track Record of Reliability

When evaluating cloud backup services for your small business, the provider’s reliability is paramount. It’s crucial to research their historical service uptime to ensure consistent data availability. Opting for an established cloud provider with a proven track record can minimize risks of downtime and enhance data protection. Customer reviews often highlight the reliability aspect, thus making them essential in assessing the safety and stability of the service. Prioritize providers known for their consistency and dependable service delivery to foster trust in their cloud backup solutions.

Customer Reviews and Testimonials

Customer feedback plays a vital role in selecting a cloud backup provider, offering valuable insights into service reliability and efficiency. In the competitive realm of cloud backup solutions, these reviews help identify services that excel in user-friendliness, cost-efficiency, and robust security measures. Testimonials from small business owners underline the resilience of a provider’s infrastructure, particularly its capacity to manage data recovery processes during crises. Regular customer feedback aids providers in refining their services, ensuring they adapt to evolving business needs and cybersecurity challenges. Thus, analyzing customer experiences can significantly influence your choice of a cloud backup service.

Track Record of Reliability

When selecting a cloud-based backup service for your small business, evaluating the provider’s track record of reliability is crucial. A cloud backup provider with a proven history of high service uptime and data security offers peace of mind and enhances business continuity. This reduces the risk of service disruptions and ensures that your data remains safe from unauthorized access and other potential threats.

Opting for established cloud backup companies with a solid track record is preferable over newer startups, which may offer appealing pricing or features but lack proven reliability. This choice significantly enhances the safety of your data and supports effective recovery processes in case of a natural disaster or physical damage. In this context, customer reviews and documented service uptimes should be crucial aspects of your evaluation process. They provide insights into the cloud provider’s consistency and trustworthiness.

Ultimately, a reputable provider’s history offers confidence in their cloud backup solutions, ensuring that your critical business backups are effectively managed. Thoroughly researching and assessing a provider’s background can help solidify your backup plans and safeguard your business’s future.

Customer Support

Selecting a cloud-based backup service for your small business involves ensuring robust customer support. Responsive and knowledgeable technical support from cloud backup providers is essential to achieve peace of mind. When evaluating these services, prioritize understanding their customer service offerings to avoid potential disruptions and swiftly resolve technical issues.

Accessibility of Assistance

Cloud backup services should offer easy access to backups via web browsers or dedicated control panels, ensuring that retrieving your data is straightforward. This accessibility allows businesses to maintain operational flexibility, enabling employees to work remotely without compromising data management. It’s also beneficial to hire an IT support company for managing business data backups, as this ensures professional assistance is readily available whenever needed.

Support Channels Offered

A reliable cloud backup service should provide multiple support channels, such as email, telephone, and online chat, catering to a variety of user preferences. Additionally, these services should ensure compatibility across various operating systems like macOS, Windows, Linux, and Windows Server. Effective backup strategies should include mobile device protection and support for cloud-based applications like Microsoft 365 or Google G Suite. This guarantees that diverse data types, including emails and calendars, are securely backed up and accessible from any location with an internet connection.

Making an Informed Decision

Selecting the right cloud-based backup service for your small business requires careful consideration of key factors. Evaluate the reliability, security, scalability, and pricing of various cloud backup solutions to ensure they meet your specific needs. A robust service should implement strong encryption protocols for data both in transit and at rest, minimizing unauthorized access risks.

Compliance with industry standards such as HIPAA, PCI-DSS, and GDPR is crucial, especially if your business handles sensitive data. Selecting a cloud backup provider that meets these regulations ensures peace of mind and aids in maintaining business continuity. A user-friendly interface and automation features can streamline the backup process, allowing staff with limited technical expertise to manage backups effectively.

Finally, training administrators and users on the backup software’s features and recovery solutions enhances the service’s effectiveness in recovery processes. Understanding the recovery options thoroughly can prove vital in the event of physical damage or a natural disaster. By considering these best practices, your small business can develop a solid backup strategy that ensures data protection and business continuity.

Contact MicroSolved for Assistance or Insights

Contacting MicroSolved (info@microsolved.com or 614.351.1237) can be a strategic decision for businesses seeking expert assistance or insights on cybersecurity and data protection. MicroSolved specializes in security measures that safeguard against unauthorized access and cyber threats, providing peace of mind for small businesses venturing into cloud-based backup solutions. Their expertise can help you navigate the complexities of data protection, ensuring that your cloud backups are secure against natural disasters and other data threats.

With extensive knowledge in backup strategies and recovery processes, MicroSolved can assist in developing comprehensive backup plans tailored to your business needs. They can offer guidance on selecting the best cloud backup provider to fit your specific requirements, ensuring smooth business continuity in the face of physical damage or other disruptions. Whether you’re managing incremental backups or preparing a robust recovery solution, MicroSolved’s insights are invaluable.

Reach out to MicroSolved for tailored advice that addresses regulatory requirements and enhances your backup processes. Their hands-on approach can help demystify the cloud backup landscape, ensuring your business backups are reliable, accessible, and secure. Enlist their support for continuous improvement of your backup systems, leveraging cloud solutions to maintain a seamless operational workflow.

* AI tools were used as a research assistant for this content.

Use Cases for AI in Vendor Risk Management

Posted on October 3, 2024 by Brent Huston

Today, managing vendor relationships has never been more critical. With increasing reliance on third-party vendors, organizations face heightened risks that can affect their operations and reputation. Vendor risk management (VRM) ensures that companies can identify, assess, and mitigate risks associated with their vendor partnerships, particularly as new challenges emerge. Traditional VRM methods often struggle to keep pace with the complexities of modern supply chains, which is where the application of artificial intelligence (AI) comes into play.

This article explores the various use cases for AI in vendor risk management, highlighting how it enhances risk assessment processes, addresses the limitations of conventional models, and discusses best practices for effectively implementing AI solutions.

The Importance of Vendor Risk Management

In the intricate web of modern business, vendor risk management plays a pivotal role in safeguarding supply chain resilience and maintaining uninterrupted operations. With third-party relationships climbing in complexity and volume, the potential risks burgeon. Third-party risk management has therefore escalated to a critical business discipline.

AI-driven solutions transform how organizations evaluate and mitigate third-party risks. Real-time updates to vendor data, courtesy of Artificial Intelligence, diminish the dependence on stale reports, ensuring procurement teams wield current insights for informed decisions. Dynamic assessments of vendor performance and compliance, propelled by AI, augment abilities to pinpoint risks instantaneously.

How AI Enhances Vendor Risk Management

Artificial Intelligence is revolutionizing Third-Party Risk Management by introducing efficiency, accuracy, and agility into the process. By automating the collection and analysis of risk data from various sources, AI not only enhances efficiency but also significantly improves the accuracy of the risk assessments.

Real-World Example: Financial Services Industry

A leading global bank implemented an AI-driven vendor risk management system to monitor its vast network of over 10,000 third-party vendors. The AI system continuously analyzes financial data, news feeds, and regulatory updates to provide real-time risk scores for each vendor. This implementation resulted in:

A 40% reduction in time spent on vendor assessments
Early detection of potential risks in 15% of vendors, allowing for proactive mitigation
An estimated cost saving of $2 million annually due to improved efficiency and risk prevention

Automating Vendor Classification

AI has a profound impact on the way organizations classify their vendors. Replacing once time-intensive manual tasks, AI systems process unstructured evidence and analyze vendor certification data at remarkable speeds. It can sift through thousands of vendor profiles, pinpoint the most relevant risks, and classify vendors according to their firmographics.

Predictive Analytics for Proactive Risk Management

At the cornerstone of proactive risk management lies predictive analytics powered by AI. These models constantly monitor an array of factors, including market conditions, suppliers’ financial health, and geopolitical events, to foresee potential supply chain disruptions or vendor stability issues before they arise.

Challenges with Traditional Vendor Risk Management Models

Traditional models of vendor risk management often encounter significant hurdles, particularly in the dynamic landscape of today’s cyber-threat environment. Here’s a comparison of traditional methods versus AI-driven approaches:

Aspect	Traditional Method	AI-Driven Approach
Data Currency	Often relies on outdated information	Real-time data analysis and updates
Assessment Speed	Time-consuming manual processes	Rapid automated assessments
Risk Detection	Limited to known, historical risks	Predictive analytics for emerging risks
Scalability	Struggles with large vendor networks	Easily scales to manage thousands of vendors
Consistency	Prone to human error and bias	Consistent, data-driven assessments

Best Practices for Implementing AI in Vendor Risk Management

In the sphere of vendor risk management, integrating artificial intelligence (AI) can catalyze a transformation in managing and mitigating risks associated with third-party vendors. Best practices when implementing AI into such critical operations involve a holistic approach that spans dynamic risk assessments, automation of risk analysis, and enhancement of operational resilience.

Integrating AI with Existing Processes

A seamless integration of AI with existing supplier management systems ensures not only a cohesive workflow but also eases the adoption process for security teams. Organizations benefit from starting with a pilot program to gauge the impact of AI systems with real-world data before moving to a comprehensive deployment.

Training Staff on AI Tools

A successful AI integration in vendor risk management is contingent not just on technology itself, but also on the proficiency of the human intelligence behind it. Consequently, equipping the procurement team with essential skills and knowledge pertaining to AI technologies becomes paramount.

Establishing Clear Governance Frameworks

AI-powered tools have the potential to significantly bolster governance structures by enhancing transparency and offering traceable, auditable insights into business transactions and decision-making processes. By leveraging AI, organizations can actively maintain compliance with regulations, effectively mitigating risk exposure and promoting a culture of accountability.

Ethical Considerations in AI-Driven Vendor Risk Management

While AI offers significant benefits in vendor risk management, it’s crucial to consider the ethical implications of its use:

Data Privacy: Ensure that AI systems comply with data protection regulations and respect vendor privacy.
Algorithmic Bias: Regularly audit AI algorithms to detect and mitigate potential biases that could unfairly assess certain vendors.
Transparency: Maintain clear communication with vendors about how AI is used in risk assessments and decision-making processes.
Human Oversight: While AI can automate many processes, maintain human oversight to ensure ethical decision-making and accountability.

Future Trends in AI-Driven Vendor Risk Management

Artificial intelligence has rapidly evolved from a novel innovation to a cornerstone of vendor risk management, and its trajectory points to even more sophisticated and strategic uses in the future.

Emerging Technologies in AI

Several breakthrough AI technologies are coming to the fore within vendor risk management paradigms:

Machine Learning (ML): ML algorithms have become a staple for enhancing predictive analytics, allowing for more rapid and accurate risk assessments based on an ever-growing data pool from vendors.
Natural Language Processing (NLP): NLP technologies are vital for analyzing the plethora of unstructured data that vendors generate, converting nuanced textual information into actionable insights.
Robotic Process Automation (RPA): RPA is applied to automate repetitive and time-consuming tasks such as data collection and risk report generation.
Quantum Computing: The potential marriage of AI with quantum computing suggests a future where risk predictions and insights attain unprecedented accuracy.
Blockchain: Integration of blockchain technology with AI could enhance transparency and security in vendor transactions and data sharing.

Evolving Regulatory Standards

The burgeoning use of AI in vendor risk management introduces intricate regulatory and compliance challenges. As organizations strive to comply with these myriad regulations, a shift is necessary from a static assessment model to continuous, internal governance that actively keeps pace with regulatory evolution.

Conclusion

AI-driven vendor risk management represents a significant leap forward in how organizations approach third-party risks. By leveraging advanced technologies like machine learning, natural language processing, and predictive analytics, businesses can achieve more accurate, efficient, and proactive risk management strategies. As AI continues to evolve, it will undoubtedly play an increasingly crucial role in safeguarding supply chains, ensuring compliance, and driving strategic decision-making in vendor relationships.

However, the successful implementation of AI in vendor risk management requires careful planning, continuous learning, and a commitment to ethical practices. Organizations must balance the power of AI with human oversight and judgment to create a robust, effective, and responsible vendor risk management framework.

Take Your Vendor Risk Management to the Next Level with MicroSolved, Inc.

Ready to harness the power of AI for your vendor risk management? MicroSolved, Inc. is at the forefront of AI-driven security solutions, offering cutting-edge tools and expertise to help organizations like yours transform their approach to vendor risk.

Our team of experts can help you:

Assess your current vendor risk management processes
Design and implement tailored AI solutions
Train your staff on best practices in AI-driven risk management
Ensure compliance with evolving regulatory standards

Don’t let vendor risks compromise your business. Contact MicroSolved, Inc. (info@microsolved.com) today for a free consultation and discover how AI can revolutionize your vendor risk management strategy.

* AI tools were used as a research assistant for this content.

How and Why to Use ChatGPT for Vendor Risk Management

Posted on September 11, 2024 by Brent Huston

Vendor risk management (VRM) is critical for organizations relying on third-party vendors. As businesses increasingly depend on external partners, ensuring these vendors maintain high security standards is vital. ChatGPT can enhance and streamline various aspects of VRM. Here’s how and why you should integrate ChatGPT into your vendor risk management process:

1. Automating Vendor Communications

ChatGPT can serve as a virtual assistant, automating repetitive communication tasks such as gathering information or following up on security policies.

Sample Prompt: “Draft an email requesting updated security documentation from Vendor A, specifically about their encryption practices.”

Example: ChatGPT can draft emails requesting updated security documentation from vendors, saving your team hours of manual labor.

2. Standardizing Vendor Questionnaires

ChatGPT can quickly generate standardized, consistent questionnaires tailored to your specific requirements, focusing on areas like cybersecurity, data privacy, and regulatory compliance.

Sample Prompt: “Create a vendor risk assessment questionnaire focusing on cybersecurity, data privacy, and regulatory compliance.”

Example: ChatGPT can create questionnaires that ensure all vendors are evaluated on the same criteria, maintaining consistency across your vendor portfolio.

3. Analyzing Vendor Responses

ChatGPT can process vendor responses quickly, summarizing risks, identifying gaps, and flagging compliance issues.

Sample Prompt: “Analyze the following vendor response to our cybersecurity questionnaire and summarize any potential risks.”

Example: ChatGPT can parse vendor responses and highlight key risks, saving your team from manually sifting through pages of documents.

4. Assessing Contract Terms and SLA Risks

ChatGPT can help identify gaps and vulnerabilities in vendor contracts, such as inadequate security terms or unclear penalties for non-compliance.

Sample Prompt: “Analyze the following vendor contract for any risks related to data security or regulatory compliance.”

Example: ChatGPT can analyze contracts for risks related to data security or regulatory compliance, ensuring your agreements adequately protect your organization.

5. Vendor Risk Management Reporting

ChatGPT can generate comprehensive risk reports, summarizing the status of key vendors, compliance issues, and potential risks in an easy-to-understand format.

Sample Prompt: “Create a vendor risk management report for Q3, focusing on our top 5 vendors and any recent compliance or security issues.”

Example: ChatGPT can create detailed quarterly reports on your top vendors’ risk profiles, providing decision-makers with quick insights.

More Info or Assistance?

While ChatGPT can drastically improve your VRM workflow, it’s just one piece of the puzzle. For a tailored, comprehensive VRM strategy, consider seeking expert guidance to build a robust program designed to protect your organization from third-party risks.

Incorporating ChatGPT into your VRM process helps you save time, increase accuracy, and proactively manage vendor risks. However, the right strategy and expert guidance are key to maximizing these benefits.

* AI tools were used as a research assistant for this content.

Hosting Providers Matter as Business Partners

Posted on April 20, 2016 by Brent Huston

Hosting providers seem to be an often overlooked exposure area for many small and mid-size organizations. In the last several weeks, as we have been growing the use of our passive assessment platform for supply chain assessments, we have identified several instances where the web site hosting company (or design/development company) is among the weakest links. Likely, this is due to the idea that these services are commodities and they are among the first areas where organizations look to lower costs.

The fall out of that issue, though, can be problematic. In some cases, organizations are finding themselves doing business with hosting providers who reduce their operational costs by failing to invest in information security.* Here are just a few of the most significant issues that we have seen in this space:

“PCI accredited” checkout pages hosted on the same server as other sites that are clearly under the control of an attacker
Exposed applications and services with default credentials on the same systems used to host web sites belonging to critical infrastructure organizations
Dangerous service exposures on hosted systems
Malware infested hosting provider ad pages, linked to hundreds or thousands of their client sites hosted with them
Poorly managed encryption that impacts hundreds or thousands of their hosted customer sites
An interesting correlation of blacklisted host density to geographic location and the targeted verticals that some hosting providers sell to
Pornography being distributed from the same physical and logical servers as traditional businesses and critical infrastructure organizations
A clear lack of DoS protection or monitoring
A clear lack of detection, investigation, incident response and recovery maturity on the part of many of the vendors

It is very important that organizations realize that today, much of your risk extends well beyond the network and architectures under your direct control. Partners, and especially hosting companies and cloud providers, are part of your data footprint. They can represent significant portions of your risk, and yet, are areas where you may have very limited control.

If you would like to learn more about using our passive assessment platform and our vendor supply chain security services to help you identify, manage and reduce your risk – please give us a call (614-351-1237) or drop us a line (info /at/ MicroSolved /dot/ com). We’d love to walk you through some of the findings we have identified and share some of the insights we have gleaned from our analysis.

Until next time, thanks for reading and stay safe out there!

*Caveat: This should not be taken that information security is correlated with cost. We have seen plenty of “high end”, high cost hosting companies with very poor security practices. The inverse is also true. Validation is the key…

3 Reasons Your Supply Chain Security Program Stinks

Posted on March 4, 2016 by Brent Huston

Let’s face it, Supply Chain Security and Vendor Risk Management is just plain hard. There are a lot of moving pieces – companies, contacts, agreements, SLAs, metrics, reporting, etc. Suppliers also change frequently, since they have their own mergers/acquisitions, get replaced due to price changes or quality issues, new suppliers are added to support new product lines and old vendors go away as their product lines become obsolete. Among all of that, is cyber-security. MSI has a better and faster way forward – an automated way to reduce the churn – a way to get a concise, easy to use and manageable view of the security of your vendors’ security posture. This month, we will show you what we have been doing in secret for some of the largest companies in the world…
Vendors with good security postures often look the same as vendors with dangerous security postures, on paper at least. You know the drill – review the contracts, maybe they send you an audit or scan report (often aged), maybe they do a questionnaire (if you’re lucky). You get all of this – after you chase them down and hound them for it. You hope they were honest. You hope the data is valid. You hope they are diligent. You hope they stay in the same security posture or improve over time, and not the opposite. You hope for a lot. You just don’t often KNOW, and what most companies do know about their vendors is often quite old in Internet terms, and can be far afield from where their security posture is at the moment. MSI can help here too. This month, we will make our passive assessment tool available to the public for the first time. Leveraging it, you will be able to rapidly, efficiently and definitively get a historic and current view of the security posture of your vendors, without their permission or knowledge, with as frequent updates as you desire. You’ll be able to get the definitive audit of their posture, from the eyes of an attacker, in a variety of formats – including direct data feeds back into your GRC tools. Yes, that’s right – you can easily differentiate between good and bad security AND put an end to data entry and keyboarding sessions. We will show you how…
Supply chain security via manual processes just won’t scale. That’s why we have created a set of automated tools and services to help organizations do ongoing assessments of their entire supply chain. You can even sort your supply chain vendors by criticality or impact, and assign more or less frequent testing to those groups. You can get written reports, suitable for auditors – or as we wrote above, data feeds back to your GRC tools directly. We can test tens of vendors or thousands of vendors – whatever you need to gain trust and assurance over your supply chain vendors. The point is, we built workflows, methodologies, services and tools that scale to the largest companies on the planet. This month, we will show you how to solve your supply chain security problems.

If you would like a private, sneak peak preview briefing of our research and the work we have done on this issue, please get in touch with your account executive or drop us a line via info (at) microsolved /dot/ com, call us at (614) 351-1237 or click the request a quote button at the top of our website – http://microsolved.com. We’ll be happy to sit down and walk through it with you.

If you prefer to learn more throughout March – stay tuned to https://stateofsecurity.com for more to come. Thanks for reading!

March is Supply Chain Security Month at MSI

Posted on March 3, 2016 by Brent Huston

This month, March of 2016, we will be creating and publishing content around supply chain security, vendor risk and our new products and services focused on this area of your business.

For the last 2.5 years, MSI has been working with partners and companies around the world to create new solutions to aid them in the battle of identifying, profiling and auditing the security of their supply chain vendors. Our research in this area has led to the creation of a new line of products and services that we will be making public throughout the month.

Stay tuned to StateOfSecurity.com for the details as they unfold. In the meantime, if you would like to arrange a special private briefing about our exciting and unique new approaches and tools – give your account executive a call to arrange for a private discussion, capabilities briefing and demo.

As always, thanks for reading – and here is to helping making supply chain security manageable, efficient and effective for companies of all sizes!