Gartner Inc. predicted that by 2023, CIOs would be responsible for over three times the endpoints they were responsible for in 2018 due to the rapid evolution of IoT trends and technologies. With billions of physical devices worldwide connected to the internet today, this prediction is on its way to coming true.

With both technology and tech-related threats evolving faster than ever before, supply chain risks have taken on a new meaning in today’s digital world. While traditional supply chain risk management revolved around factors such as strategy, market reality and performance risks, today it must also focus on cybersecurity controls and data breach risk mitigation.

Global data protection regulations (new or updated) are being enforced aggressively, resulting in a tsunami of hefty fines and penalties handed out to violators. The majority of these violations are a result of the failure to conduct regular risk assessments, which form an integral part of the ‘appropriate measures’ a business must take to ensure information security.