As organisations accelerate digital transformation initiatives, they are becoming increasingly dependent on vendors, partners, consultants, and ecosystem collaborators to deliver new capabilities and remain competitive. While emerging technologies are enabling new growth opportunities and transforming operations, customer engagement, and business models, they are also introducing new layers of operational, regulatory, and cybersecurity risk. Based on insights shared during CIO Academy Asia’s virtual conference on Managing Third Party Risk in the Digital First Age, featuring industry experts, technology leaders, and practitioners from multiple sectors, this report explores how organisations can strengthen third-party risk management, improve digital resilience, and navigate the growing complexities of interconnected business ecosystems.
Read the Executive Summary for the latest insights on managing third-party risks, including:
• Third-Party Vendor Management was identified as one of the top three cybersecurity focus areas for organisations, highlighting growing concerns around data breaches, ecosystem dependencies, and supply chain vulnerabilities.
• Organisations face a “perfect cyber storm” driven by remote work, accelerated digitalisation, cloud migration, cybersecurity skills shortages, supply chain disruptions, and increasing reliance on third parties.
• APIs are becoming the foundation of digital business, with Gartner projecting that more than 50% of business transactions will be conducted through APIs, making API governance and security a critical priority.
• Effective third-party risk management requires a holistic approach that combines vendor due diligence, continuous oversight, data governance, identity management, network segmentation, and a strong risk-aware culture.