Though outsourcing risks have always been present, in recent years and even months, the damage a company can incur as a result of poor outsourcing decisions has become even more apparent. For example, according to a 2013 global security report, poor outsourcing decisions caused 63 percent of data breaches. A recent survey from an Internet security company estimated that the average cost of a data breach exceeded $7 million.
Well-publicized examples have recently created a vivid picture of the myriad issues arising from faulty or poorly managed third-party outsourcing relationships. For instance, the recent high-profile data breach at a large retailer has been at least in part attributed to the ability of hackers to access the retailer data via a third-party provider.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
