Data-Driven Monitoring

Data-driven risk monitoring refers to using data and analytics to identify and monitor potential risks associated with third-party vendors and suppliers. This approach involves collecting and analyzing relevant data points such as vendor performance, financial stability, security practices, compliance with regulations and contracts, and other key indicators to evaluate the risk a third-party vendor may pose to an organization.

Organizations can gain deeper insights into potential risks by leveraging data-driven risk monitoring techniques and developing effective risk mitigation strategies. This allows them to make informed decisions when selecting and managing third-party vendors and minimize the likelihood of disruptions or negative impacts on their operations.

It is a critical component of effective third-party risk management, helping organizations to proactively identify, monitor, and mitigate potential risks associated with their vendor ecosystem.

ThreatNG Security can help organizations implement a data-driven risk monitoring approach for third-party risk management through continuous scanning of external assets to identify potential vulnerabilities and security gaps, monitoring the dark web and other online sources for potential threats, and providing security ratings based on objective data-driven metrics. These features can help organizations assess the risks associated with their third-party vendors and suppliers and make informed decisions when selecting and managing vendors, thereby minimizing disruptions or negative impacts on their operations.