Should You Have Security Concerns When Partnering With a Third Party?

Should You Have Security Concerns When Partnering With a Third Party?

When it comes to business operations, it would be nice if we could house everything neatly under one roof. But unless you have the financial muscle of a global corporation like Ford or Amazon, it’s not always possible. As such, we may find ourselves leaning on a third party to help us, from logistics and maintenance to marketing or legal matters.

There is nothing wrong with needing this type of help, and in some ways, it’s more effective than hiring a full-time staff member, especially if you just need occasional work. Furthermore, a third party is sometimes required because what they offer is completely outside of the scope of your business.

In modern business, one of the most common ways companies work with third parties is through software-as-a-service (SaaS), with an estimated 14 billion SaaS customers worldwide. But while useful, are there any reasons not to use another business’s services? Let’s address whether companies should have any security concerns when partnering with a third party.

What is a Third-Party Service?

Simply put, using a third-party service is the act of granting another company to do work on your behalf or complement your existing working practices. When it comes to online activity, this can include major services such as Google or Zoom, but there are also more niche areas where a third-party service or an outside organization adds value to your company.

Today, businesses commonly use third parties for marketing, PR or communications but also integrate accounting software or file storage into project management systems.

Furthermore, third-party services can be offered in-house by other businesses or as an integrated and collaborative effort through cloud-ba ..

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