A new special edition in the popular For Dummies series aims to put an end to third-party cyber risk management woes, shed light on a complex topic that organisations of all sizes need to tackle effectively.

Cyber Risk Management

Produced in partnership with global cyber risk exchange provider, CyberGRX, “Third-Party Cyber Risk Management For Dummies” explains how a data-driven approach is the future of mitigating third-party risk.

Bringing much needed clarity to an often perplexing area of risk management concern, the book details how organisations can better prevent security threats from third parties, avoid costly financial and reputational loss, and explores how utilising data-driven approaches to third-party cyber risk management (TPCRM) is the most effective way of making progress.

Many experts feel that organisations have been approaching TPCRM entirely the wrong way, choosing outdated methods and, as a result, encountering missed opportunities and inefficiencies that leave businesses vulnerable to cyber risk. In the book, specialists discuss a new, revolutionary data-driven approach to TPCRM.

Co-authored by CyberGRX CEO Fred Kneip and Senior Content Marketing Manager Michelle Krasniak, Third-Party Cyber Risk Management For Dummies uses real-life examples to highlight challenges associated with traditional TPCRM approaches and outlines how readers can become part of the future of TPCRM.

Across five chapters, the authors look at how to understand third-party cyber risk management, how to communicate its importance to leadership, tackle the traditional (and outdated) approach to TPCRM, how to use a data-driven approach in order to make the most of predictive analytics, and reveal ten ways to make your TPCRM program more successful.

Fred Kneip, CEO at CyberGRX, said:

“For too long, risk management, security, and procurement professionals have had to try to navigate and mitigate third-party cyber risk through a laborious and inefficient assessment process that still end up lacking the necessary visibility into risk posture.

“Within the nature of today’s threat landscape, organisations cannot afford to cut corners when it comes to TPCRM. We’ve identified a solution and are excited to introduce this new world of TPCRM. Our hope is that we can help readers implement a new approach that alleviates challenges, removes inconsistencies, and gives them the necessary insight into how to build a TPCRM strategy that actually reduces risk,” Kneip added.

Edna Conway, Vice President of Security, Risk and Compliance Microsoft’s Cloud Infrastructure, said:

“A combination of quality cyber risk data and advanced analysis are imperative in cyber risk management.

“CyberGRX’s book serves as a useful guide on how to adopt a game-changing approach that is critical to detecting and preventing the next generation of cyber threats,” Conway added.