5 Vendor Security Management Trends to Expect in 2021

December 01, 2020

Looking back now to the end of 2019, nobody could have predicted the wild and tumultuous year 2020 turned out to be. While vendor security and risk teams experienced both ups and downs over the last year, the uncertainty also uncovered areas of unique opportunity and growth for organizations. Thanks to the unique situation of 2020, InfoSec and data security professionals can be better prepared for what 2021 stands to bring – even if things don’t go quite as planned.

Here are five predictions for what vendor security management teams may face in 2021 to help teams and leaders with strategy, planning, and preparedness: 

 

1. The continued rise in remote work will drive more risk and threats against corporate data.

2020 dealt plenty of unexpected blows to corporations in every industry, but one of the most difficult challenges to overcome was the rise of remote work. With more people working from home but still needing to access corporate data remotely, InfoSec teams were thrust into overdrive to figure out how to secure corporate data remotely. In 2021, remote work is now the name of the game, and InfoSec teams should be prepared.

 

2. More online transactions—mostly from work computers—means more entry points for hackers. 

Another unexpected side effect of 2020 and the remote work experience is the rise in online transactions. Everything from groceries to prescriptions to simple everyday purchases are being made online. Many people use their work computers (which are now their home computers) to make these transactions. Every bit of data shared online is a potential entry point for malicious attacks, which means InfoSec teams are in for another year of risk prevention.

 

3. Two-factor authentication will be a must-have for any security-conscious organization.

Multi-factor authentication has been growing in popularity over the last few years, and 2021 is poised to be the year for wide-spread adoption of this security technique. If your team isn’t already using two-factor authentication, now is the time to put it into place.

 

4. With more work done online, user error will also continue to rise in 2021.

2020 completely uprooted our day-to-day lives by replacing face-to-face contact with online engagements. With more people working online and accessing different tools online at any given time, the room for unexpected user error has also increased. In 2021, risk management teams should use the challenges of 2020 to inform increased protections and preventative measures to decrease this risk.

 

5. Technology on both sides of the aisle will continue to be developed at a rapid pace.

And, as always, InfoSec teams should be completely aware of and cognizant of the technology available on the nefarious side of the aisle. While there will be plenty of innovation on the side of vendor risk management teams, hackers will also continue to develop new technology. Having the right tools and processes to meet these threats head-on will be critical for success in 2021.

 

After the whirlwind of 2020, it can be unsettling to predict what will happen in 2021. The events of 2020 have actually put InfoSec teams in a prime position to survive and thrive in 2021 and beyond. You can check out more Whistic resources here

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Whistic
Whistic

The latest insights and updates on information security and third party risk management.

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