![]() ![]() Once you identify potential partners, have them complete a questionnaire that thoroughly covers security management system details. It’s crucial to ensure the vendor takes the proper measures to encrypt and protect your data. First, identify and evaluate the type of data that vendors and suppliers may need to access, and decide whether they need to access all, some, or none of it to do their work. Your selection process should focus on assessing a third-party vendor or supplier to store your data. Therefore, it’s crucial to protect all your customer and company data. Decrease Security and Cyber Risk: The threat of cyber risk grows as we increasingly move our work to the cloud.Scope of Service and Contract Compliance: Conduct a legal review of contract terms, nondisclosure agreements (NDAs), or partnership agreements to ensure that you’ve set favorable conditions and mitigated any risks.For example, if you do business in the European Union, the General Data Protection Regulation (GDPR) applies. ![]() If your vendor is in another country or you sell to another country, check those countries’ legal requirements, too.
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