CyberCall – Negotiating Vendor Contracts

In this video, Eric and Andrew engage in an insightful discussion about the importance of vendor and subcontractor agreements, particularly focusing on how these relationships impact data security and risk management for Managed Service Providers (MSPs). They explore the critical need for MSPs to review and negotiate contracts to ensure they are not left vulnerable or “holding the bag” if a vendor or subcontractor fails to meet their obligations. The conversation also delves into the evolving landscape of MSP responsibilities, including the management of third-party risk and the implications of emerging technologies like AI on data handling.

• The importance of vendor and subcontractor management in MSPs is increasing due to the rise in security threats and regulatory requirements.
• MSPs should ensure legal agreements with both vendors and subcontractors are in place and align with promises made to customers.
• The role of MSPs is evolving to include third-party risk management and digital transformation services, providing new revenue opportunities.