Vet your vendor: Before signing a contract, thoroughly vet your vendor. Don't commit to them without conducting background checks, security assessments, reviews of track records, and evaluation of security policies. Also, ask for certifications and evidence of compliance with industry norms.

Define expectations: You can't take a chance on your business. Draw up a contract that clearly outlines your expectations on security, responsibilities, and liabilities. Ensure you have a clause that makes it mandatory for the vendor to maintain specific security standards at all times and makes them obligated to report any or all security incidents.

Risk assessment and due diligence

Knowing where risks exist is the first step to managing them. IT service providers can conduct thorough evaluations of your vendors. They don’t just stop at surface-level checks; they dig deep into compliance records, past security incidents and their existing vulnerabilities.

This isn’t about instilling fear. It’s about giving you clarity. When you understand which vendors pose risks and where your vulnerabilities are, you’re in a much stronger position to decide which partners to trust and how to protect your business.

An emerging threat is the supply chain attack, a sophisticated strategy that targets less-secure elements in a network to compromise a more secure system.