COVID-19 pandemic has introduced multiple changes in the traditional ways of working. In a traditional setup, third parties were providing services to global organisations from established Offshore Development Centres (ODC)/Offshore Work Centres (OWC). Post the onset of pandemic, organisations were exposed to increased cybersecurity risks when entire workforce abruptly started working from home in 2020. After more than two years now, most of the businesses continue to follow the ‘Work From Home’ (WFH)/ hybrid working model. As a response, organisations must reevaluate their existing strategy for addressing risks associated with third parties. The Point of View focuses on how exposure to risks associated with third parties has elevated due to the adoption of remote/hybrid working model, factors leading to the change in risk exposure and measures taken by organisations globally to address the heightened risk profile.
