Nth Party Risk
"Nth Party Risk" is a term used to describe risks that arise from the relationships between an organization and the entities that are several steps removed from it in its supply chain or business ecosystem. In contrast to fourth-party risk, which refers to the threat posed by entities directly associated with a company's third-party vendors or service providers, the term "nth-party" describes risks associated with entities further removed in the supply chain.
Nth-party risk is the concept that every organization is connected and is part of a vast network of other entities. The risk associated with any of these entities can ripple throughout the entire network. Managing nth-party risk can be challenging, as it requires a company to deeply understand its supply chain and business ecosystem, including the relationships between various entities and their potential impact on the company's operations and reputation.
Nth-party risk refers to the risks posed by entities beyond a company's direct business relationships and requires a more comprehensive approach to risk management.
ThreatNG Security helps manage Nth-party risk through the following:
Extended Network Mapping: ThreatNG's external attack surface management capabilities can help map out an organization's vast network of business relationships, including third-party vendors and service providers, their vendors and service providers. An ability that can help identify the various Nth-party relationships within the organization's ecosystem.
Continuous Monitoring: ThreatNG can provide continuous monitoring of the organization's extended network, which includes monitoring for any changes in relationships and identifying any new Nth-party entities that may pose a risk.
Digital Risk Protection: ThreatNG's digital risk protection capabilities can monitor the security of the organization's extended network of business relationships, including Nth-party entities: scanning for data breaches, vulnerabilities, and other security risks that may impact the organization.
Security Ratings: ThreatNG's security ratings solution can assess the security posture of Nth-party entities within the organization's ecosystem, which includes evaluating their overall security posture, identifying areas of weakness, and providing recommendations for remediation.
Collaboration: Finally, ThreatNG can facilitate cooperation and communication between the organization and its extended network of business relationships, including sharing security ratings and other risk-related information with third and Nth-party entities to encourage better security practices throughout the ecosystem.
