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To prevent data breaches through the supply chain, organizations must thoroughly assess and monitor the security of the third parties with which they do business. A key part of this assessment involves the completion of a thorough security questionnaire; however, this process can be time-consuming, expensive and tedious. These lengthy and involved questionnaires, which are often on spreadsheets, hinder business.
How can organizations make vendor questionnaires more effective? This guide covers six essential steps, including:
- Identify standards and regulations
- Scope your questionnaire
- Determine areas of material risk
- Calculate inherent risk