LONDON–(BUSINESS WIRE)–#CyberAttack–Future cyber-attacks like the WannaCry ransomware attack, which has
spread to over 100 countries and thousands of computers in its first
week, can be protected against by improving procurement strategy says SpendEdge,
a global procurement intelligence advisory firm.
Procurement analysts handle gigantic volumes of data in the forms of
supplier information, invoicing, pricing decisions, and much more.
Procurement teams are essentially hubs of sensitive data, which
increases the importance of maximizing
cyber security in their daily work process.
“Integrating the existing procurement processes with cyber security
solutions is the first major step towards making your systems ready to
handle cyber-attacks,” says SpendEdge. “This needs to be followed by
clear identification of physical and logical architecture of different
procurement facilities, so that incorporation of cyber security becomes
more focused and simplified.”
SpendEdge was recently approached by a global information security
provider to engage in a procurement
market intelligence study on security products and services to
understand various facets of the market dynamics, sourcing practices,
and pricing. Organizations are increasingly turning to procurement
intelligence, looking for help in identifying key suppliers in the
information systems security industry and evaluating them based on their
operational and functional capabilities. The threat of cybercrime is at
an all-time high and the recent events of the WannaCry ransomware attack
will only add to procurement leaders’ emphasis on choosing
business partners with the highest standards of data security.
Partnering with a procurement intelligence firm like SpendEdge allows
you to answer questions such as:
- Is your business prepared against cyber criminals?
- Is your business information secured?
- Are you able to manage the confidential information of your customers
- Do you have a contingency plan in place to mitigate risks?
Once these questions are assessed, procurement advisors can offer a wide
range of actionable solutions that will help you make the right choice
to ensure the security of your accounts and computers. Some of these
- Staying updated on the latest innovations and news from cyber security
space, to ensure the systems are up-to-date (a small patch is all it
takes to safeguard against a ransomware attack).
- Gaining insights to make informed decisions when choosing information
security solutions and suppliers.
- A better understanding of best-in-class practices and identifying
- Identifying how security plans can be implemented as part of your
evaluations and competitive landscape.
- Developing a plan to work closely with suppliers to implement security
Protect your procurement process from cyber-attacks: Contact
SpendEdge’s solutions experts
SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred market intelligence partner for Fortune
500 firms and other leading companies across industries. Our strength
lies in delivering actionable insights that help sourcing and
procurement professionals get the right information in the right format,
without any unnecessary frills. For more information on SpendEdge’s
services, please contact