BlueVoyant has released the findings of its third annual global survey into supply chain cyber risk management. The study reveals that 98 percent of firms surveyed have been negatively impacted by a cyber security breach that occurred in their supply chain. This is up slightly from 97 percent of respondents last year. Digital supply chains are made of the external vendors and suppliers who have network access that could be compromised.
Other key survey findings include:
- 40 percent of respondents rely on the third-party vendor or supplier to ensure adequate security.
- In 2021, 53 percent of companies said they audited or reported on supplier security more than twice per year; that number has improved to 67 percent in 2022. These numbers include enterprises monitoring in real time.
- Budgets from supply chain defense / defence are increasing, with 84 percent of respondents saying their budget has increased in the past 12 months.
- The top pain points reported are internal understanding across the enterprise that suppliers are part of their cyber security posture, meeting regulatory requirements, and working with suppliers to improve their security.
The study was conducted by independent research organization, Opinion Matters, and recorded the views and experiences of 2,100 chief technology officers (CTOs), chief security officers (CSOs), chief operating officers (COOs), chief information officers (CIOs), chief info security officers (CISOs), and chief procurement officers (CPOs) responsible for supply chain and cyber risk management in organizations with more than 1,000 employees across a range of industries. The survey covered 11 countries: US, Canada, Germany, Austria, Switzerland, France, the Netherlands, the United Kingdom, Australia, the Philippines, and Singapore.