Companies today are using more vendors than ever to capitalize on new business opportunities and optimize operations. In fact, the average company has 89 different vendors accessing their network every single week, finds CSO. That number will likely increase as companies adopt more managed cloud services; outsource entire business functions; and partner with third parties to gain new Internet of Things (IoT) services such as analytics and connected device monitoring, management, and preventive maintenance.
Vendor relationship management is a “top 5” skill for today’s CIOs
In fact, Gartner identified vendor management as a strategic competency all enterprises must have. “By 2017, CIOs will develop vendor relationship management skills as a top-five competency to extract business value and innovation from strategic vendors,” says Christopher Ambrose, Research Vice President at Gartner.
More than 3 in 5 of data breaches due to third parties
At FinalCode, we agree. Whether its designs, BOMs, cost data, or more – your company has data that must stay secure. As you increase the number of vendors, you will need to manage more network users and access privileges than ever. Adding to the complexity is that vendors don’t always need the same rights. For example, Vendor A may need time-limited, view-only access to confidential data, whereas Vendor B may be a strategic collaborator and need to access and manipulate information on an ongoing basis. You will also want to safeguard data from diversion, such as being downloaded to unapproved devices like external drives.
Pioneer uses FinalCode to share confidential files securely with vendors
Pioneer Service Network Corporation, a Japanese firm, faced this challenge when trying to grow its maintenance services. Mr. Hiroshi Wada, manager of Pioneer’s IT System Group, explains:
“Although all the files are confidential, it is necessary to share them with partner companies to process the orders and do other work. We were afraid of the risks of attacks from hackers, infection by virus and human error before deployment.”
Mr. Hiroshi Wada says: “FinalCode’s security is really tight and not only is the encrypted file only available to authorized persons, but usage can be tracked. More so, as a file is taken, it can be deleted remotely. This strong protection really works. FinalCode is the ultimate file security program.”