Managing cyber security risk is a key challenge for all businesses operating across a supply chain. For small and medium-sized organisations, the challenge is a particularly difficult one.
As targeted attacks by hackers on weaker points in a supply chain increase, SMBs are under more pressure than ever to defend not only their assets but the vital information they exchange between vendors and customers on a daily basis.
Protecting data is a huge task for large organisations, never mind SMBs that may lack the resources and security expertise to detect and defend against evolving cyber-attacks that can too easily evade traditional signature-based defences such as firewalls and anti-virus software.
For any organisation in a supply chain, the job of managing security risk can be complicated further by a lack of awareness about the size of the supplier ecosystem and how far it extends.
Time to take cyber risks seriously
An increased focus on cyber security across supply chains is hardly surprising. Cyber breaches can be extremely damaging to any organisation and the repercussions can extend to customers and partners. Financial and reputational damage as well as loss of intellectual property are just some of the consequences that an exposed business might incur.
To enter into a supply chain, many businesses are now gaining competitive advantage by demonstrating that they have effective security controls in place. This includes achieving globally recognised information security standards like ISO 27001/2, as well as government-backed accreditation like Cyber Essentials.
Those businesses that do not demonstrate that they take security seriously, risk not only being exposed to threats and legal action but missing out on key contracts.
Compliance is no longer a tick box exercise
Today’s compliance requirements are aimed at improving cyber education, processes and strategy, as well as highlighting vulnerable technology. Many accreditations require a comprehensive security assessment to be performed yet for many SMBs, these can be complex and time-consuming, requiring the support of multiple stakeholders.
Developing an effective security strategy is no longer the sole responsibility of the IT department. For an SMB, input is also needed from Purchasing and HR teams, right up to and including those in the Boardroom.
A managed service for today’s threats
Sourcing, hiring and training in-house security specialists is hardly affordable for many SMBs. Finding personnel with the right level of expertise can also be tough, with qualified specialists in high demand and often snapped up larger organisations.
A flexible and cost-effective solution is to seek the advice of a Managed Security Service Provider (MSSP) to help identify, detect and prevent cyber threats.
By understanding the latest tools and methodologies used by cyber criminals, an MSSP can help to quickly highlight security vulnerabilities through regular risk assessments and penetration tests, as well as identify and rapidly lock down attacks with proactive 24/7 network monitoring.
For small and medium-sized businesses that are disproportionately exposed to cyber risk as a result of their relationships with larger organisations, MSSPs offer a flexible and cost effective way of ensuring that they are no longer seen as a weak link in the supply chain.
Redscan Cyber Security Ltd is a Managed Security Services Provider (MSSP) helping businesses of all sizes defend themselves against today’s increasingly sophisticated cyber-attacks. By utilising the latest technology and adopting the mind-set of the adversary, Redscan’s team of security specialists are expertly equipped to challenge the defences and incident response capabilities of any organisation.
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