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    Digital Trust

Are Suppliers Handling Your Data Responsibly?

Supply chain interconnections pose risks for organizations. We explore strategies to mitigate these concerns.

Mitigating third-party vulnerability

Decades ago, it was far simpler for an organization to identify the perimeter of its digital operations and put measures in place to prevent cyberattacks.

The complexity and interconnectivity of modern digital operations make it more challenging for organizations to establish clear boundaries and prevent cyberattacks.

The vulnerabilities in the digital supply chain may lead to the exposure or loss of sensitive information, disruptions in operations, and substantial financial losses.

One potential approach to navigating this complex landscape is to adopt a digital trust mindset that includes both the organization and its partners. This proactive approach can be crucial in addressing the potential threat of cyberattacks that can occur at any point in the supply chain.

A deep dive into supply chain ecosystem

As cyberattacks grow more sophisticated, their impact is amplified by the complex web of relationships that define modern supply chains.

This intricate web means that organizations often rely on third parties to adopt robust digital security measures. However, a concerning reality emerges — these suppliers and partners might harbour vulnerabilities of their own. This situation is further exacerbated when attackers shift their attention to the supply chain's less fortified links.

The Expeditors' attack in 2022 serves as a poignant example of the consequences stemming from supply chain vulnerabilities. This breach compromised a freight company's ability to manage customs, distribute shipments, and handle various operations for weeks.

The implications of this attack reverberated far beyond immediate financial losses, highlighting the urgency of supply chain security and proactive risk assessment.

Navigating the complex terrain

To effectively protect the digital supply chain against cyber risks, organizations should consider implementing comprehensive strategies that encompass both their internal operations and external partnerships.

This includes a multi-faceted approach that spans risk assessment, emerging technology adoption, and organizational integration.

1. Understanding suppliers: An information onboarding checklist and contracts no longer suffice. Organizations need real-time insights into suppliers' system protections. This knowledge forms the foundation for robust security, further augmented by internal processes, risk remediation, key performance indicators (KPIs), and regular audits.

2. Securing emerging technology: As organizations invest in remote-accessible systems like connected operational technology (OT), cyberattack vulnerabilities are likely to increase. Effective protection entails a thorough understanding of these vulnerabilities, supported by comprehensive processes and plans.

3. Integration of cybersecurity: Traditional compliance-driven cybersecurity approaches are inadequate in today's landscape. By integrating cybersecurity throughout your organization, you unlock the potential for enhanced security beyond compliance obligations.

A continual call to action

The evolving landscape of cybersecurity mandates constant vigilance. As organizations grapple with supply chain complexities and emerging technologies, the need for adaptability remains paramount.

Cybersecurity is no longer an isolated endeavour; it's a collective responsibility that needs to be interwoven throughout the fabric of modern organizations and their interconnected supply chains.

Join the ongoing journey

Cybersecurity is an ongoing journey, a dynamic endeavour that requires adaptability and a commitment to proactive security measures. The challenges are vast, but so are the rewards.

By embracing a digital trust mindset and cultivating resilient supply chains, organizations fortify themselves against the rising tide of cyberattacks and secure a future of sustainable growth.

A unified playbook

Standards are the bedrock of digital trust in the supply chain. They provide a unified playbook for cybersecurity, ensuring resilience against evolving threats.

By adhering to benchmarks, organizations like yours can strengthen your defences, inspire confidence, and navigate the dynamic landscape of cyber risks with greater assurance.