Third-party engagement has steadily become an essential part of business operations for many organizations. Third parties often hold sensitive information or have access to a partner’s systems. Organizations can’t just assume that their third-party partners are cyber-secure. All parties involved in the vendor ecosystem need assurances’a level of trust built on a customer/third-party partnership focused on cybersecurity. A robust program of Third-Party Cyber Risk Management (TCPRM) is the best way to get there.
Source: https://www.helpnetsecurity.com/2021/06/10/cyber-risk-management-third-party/