Get Immediate Help
Certifications & Accreditations
What is Third-Party Risk Assessment
Businesses exchange data with third-party service providers and subcontractors to enhance customer experience and lessen expenses.
But with outsourcing to a third party comes the possible risk of data breaches and cyberattacks.
A third-party breach can lead to significant economic losses, inconvenience, exposure of confidential data, reputational damage, penalties, and other legal obligations.
Common Types of Third-Party Risks
Microminder can help you identify and mitigate these risks.
It is important to understand the specific nature of the vendor's activity and how it could impact your business. Third-party risks to a business can range across six primary areas:
Cybersecurity risks are the most common risk posed by third-party partners and represent a significant challenge for companies. A data breach may result in the disclosure of private data, fines, and other legal requirements.
This involves the risk of third-party vendors disrupting normal business operations. Contractually binding service level agreements (SLAs) are signed to reduce the impact.
Risks that directly influence your company's finances. For example, if you rely on a third party to handle your supply chain and they fail to deliver, your business may suffer losses.
Data privacy risks concern how the partner organisation handles personal data. These risks could lead to legal action or unwanted publicity.
Negative publicity associated with a data breach can damage a company's reputation but benefit the third party.
The possibility that your company may fail to accomplish its business objectives because of a third-party provider.
It's also worth noting that these areas can overlap. For example, if a company suffers a cybersecurity breach and customer data is stolen, it faces operational, reputational, and financial risks. Microminder can help you identify and mitigate these risks. Our team of experts will identify which partners pose the most significant risk to your business and how best to protect your data.
Microminder Cyber Security Team Stats
Total customers globally
Web & Mobile Apps tested
Users secured globally
Of our recent pen tests identified vulnerabilities
Of them contained critical and high risks.
Were access and authentication related issues.
Business risks were remediated last year.
Microminder's Third Party Assessment Process
Third Party Assessment can give you peace of mind from knowing your partner's cybersecurity posture is sound.
When a cyberattack impacts your client's data, it doesn't matter whether the root was a third party - your business will be liable for the damage. So how are you controlling third-party cyber risk when your reputation and income are at stake? Do you properly comprehend the cybersecurity and resilience of your third-party vendors?
We then classify the vendors depending on the severity of the damage they can do to your firm. To fully comprehend this, we first establish where the data is stored and if it is processed further. Our team also considers other aspects that may suggest the type of security evaluation needed.
We compile a list of all your third-party merchants. Our strategy is to start with the suppliers most consequential to your organisation's functioning and then move on to the lesser ones that provide assistance. We make sure not to exclude any seller, regardless of size, because you never know which one might jeopardise your entire business.
We then grade third-party providers depending on the amount of threat to your business. There are three risk levels: high, medium, and low. High and medium-risk vendors deal with critical operations or sensitive data, whereas low-risk vendors do not.
After thoroughly assessing the vendors and threats they may pose, we get a clear understanding that allows us to quickly increase the security of your third-party data transfers. We also regularly monitor your operations to secure your information and company image.
Better security posture
Enhanced consumer experience
Improved operational efficiency
Greater consumer trust
Reduction of business disruption
Higher sales, projections and profitability
Third party performance meets your expectations
Trusted by over 2500+ customers globally
We’ve been helping our customers with affordable IT and Cyber security services for
310 reviews on
Our Customer Testimonials
We had the pleasure of working with Microminder Cybersecurity...and I have to say, their work was nothing short of splendid...
Viktor DimitrovProduct Owner - moby2.com
Microminder's in depth and broad scope pen testing truly provided us with some valuable insights...
Claire LeePractice Manager - Amsel and Wilkins LLP
Microminder's 24/7 managed security services got deployed with such ease and immediately gave us an eagle eye view into our security logs and events...
Julie CockbillHead of Operations - InfinityBlu Dental
Microminder helped us with a tailored managed security services that aligned with our business needs...
Tina PatelHead of Integrations – Dental Beauty Partners
We have chosen Microminder's CISO as a Service model and are very happy with it...I can only recommend Microminder's service.
Philipp MussbacherSecurity Engineer & solutions consultant – Anonymous
UK - Stanmore office Office
Stanmore Business and Innovation Centre, Howard Road, Stanmore. HA7 1BT
UK - Perivale Office
8a Wadsworth Rd, Perivale, Greenford UB6 7JD
38 Main Street, Swords Glebe, Swords, Co. Dublin K67 E0A2
Groot Mijdrechtstraat 22, 3641 RW Mijdrecht, Netherlands
Westway Office Park, entrance 1, 13 The Blvd, Westville, Durban, South Africa
The Campus, 57 Sloane Street, Wrigley Field Building, Bryanston, Johannesburg, South Africa
2nd Floor, Atlanta Arcade Church Road, Marol, Andheri East, Mumbai 400059
13th Floor, Aspin Commercial Tower, Sheikh Zayed Road,P.O Box 413028. Dubai, UAE
Company at a glance
Microminder is a global holistic cyber security and cyber intelligence services provider which has been serving clients for past four decades.
London | UAE
Blogs & Resources
Discover our latest content and resources
We bring intelligence and mindset together.
Transform your cyber security strategy and make it your competitive advantage. Drive cost efficiency and seamlessly build a roadmap. Let’s do it right the first time!
Call UK: +44 (0)20 3336 7200
UK: +44 (0)20 3336 7200
Unlock Your Free Penetration Test Now
Secure Your Business Today!
Unlock Your Free Penetration Test Now
Thank you for reaching out to us.
Kindly expect us to call you within 2 hours to understand your requirements.