We did. That’s an amazing number and it underscores the importance of vendor monitoring. Without knowing what is going on with your vendors – their financial health, whether they are under regulatory sanctions, or if they have had a data breach – you have no idea how risky they are to do business with. Sure, you may have reviewed their information security controls or assessed their financial strength when you started doing business with them…but things change every day. Financial stability deteriorates, data breaches happen and control audits reveal weaknesses and risks. That’s why vendor monitoring is important. Every day we monitor the news and market-based risk for more than 650 industry vendors and issue risk alerts to our customers through the VendorINSIGHT® system. It’s just one of the many things that sets VendorINSIGHT® apart.
What happens if you suddenly lose your point of contact (POC) at a vendor? A POC is an individual or a specific department who acts