Even with airtight data-privacy policies, businesses may overlook a glaring vulnerability that exposes them to crippling compliance fines and data breaches — third-party vendors. Convenient and cost effective, businesses outsource countless functions to third parties, often without knowing whether the vendors comply with data-privacy standards.
Vetting third-party vendors for data security comprises one of several steps that businesses must take to comply with data-security standards. As more governing bodies adopt legislation that shifts power over data to consumers, the potential cost to businesses grows. Further compounding the already-hefty cost of regulatory fines and data breaches, businesses will also face individual and class-action lawsuits. Don’t wait for crunch time after a mandate goes into effect. Act now to ensure compliance.
This helpful checklist from talent acquisition provider iCIMS can help you determine whether your third-party vendors value your data security needs.