An October 2021 survey of Canadian tech and security executives found that more than 50 percent of organizations had audited or verified third parties or suppliers' security posture and compliance. A further share of 43 percent of the organizations refined our criteria for onboarding and ongoing assessments of third parties. Among surveyed organizations, 27 percent terminated the partnership with certain third parties as an attempt to establish a more profound third-party risk management.
Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type
Characteristic
Share of respondents
Audited or verified the security posture and compliance of third parties or suppliers
51%
Refined our criteria for onboarding and ongoing assessments of third parties
43%
Provided knowledge-sharing or assistance to third parties to shore up their cybersecurity postures
41%
Addressed challenges, cost-related or time-related, that affect your ability to be cyber resilient
41%
Performed more rigorous due diligence
39%
Rewritten contracts with certain third parties to mitigate our risks
The original question was formed as follows: "Has your organization done any of the following actions in the past 12 months to minimize third-party or supplier risks in your ecosystem? Check all that apply."
The source adds the following information:
"The three lasting actions are refining criteria for third-party assessments, rewriting contracts and performing more rigorous due diligence.
Respondents operate in a range of industries: tech, media and telecom; industrial manufacturing; financial services; retail and consumer markets; energy, utilities and resources; health; and government and public services."
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
PwC. (November 16, 2021). Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/
PwC. "Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type." Chart. November 16, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/
PwC. (2021). Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/
PwC. "Share of Organizations in Canada That Took Actions toward More Prominent Third-party Risk Management as of October 2021, by Action Type." Statista, Statista Inc., 16 Nov 2021, https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/
PwC, Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type Statista, https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/ (last visited July 22, 2024)
Share of organizations in Canada that took actions toward more prominent third-party risk management as of October 2021, by action type [Graph], PwC, November 16, 2021. [Online]. Available: https://www.statista.com/statistics/1342379/organizations-taking-actions-for-third-party-risk-canada-by-type/
