Great topic. I think the more appropriate question would be; is there any company that has not had a data breach?
We see in the news, time and time again every year, about another big business that had a security breach and tens of thousands of customer’s personal data has been compromised. (Compromised. Hmm. I think that’s a softer, kinder way of saying hacked or stolen.)
I know a lot of companies will outsource certain aspects of their business/services due to the cost of building that service in-house. However, in the long run, when data is compromised/stolen, it impacts the bottom line when customers start pulling out due to a lack of trust in the company. So, was it worth it in the long run? Sometimes, but not always. Hence RvR (Risk vs. Reward) must come into play. In that respect, the company as a whole, may declare that the risk is worth the reward. But from a customer or shareholder’s perspective, their data is more valuable and justifies the added expense of in-house learning and building of needed apps.
Summing it up, if a company takes on additional partners, that company could insist on being informed when the secondary company also takes on additional partners. But, in the end it’s not worth the effort. If company A takes on a partner, company B, then company B takes on a partner, Company C, then company…. Well, you see where I’m going with this. Following this pattern, as you mentioned in the original post, a company is only as strong as it’s weakest link.
So again, I ask, is the risk worth the reward? In-house vs outsourcing. Who really loses in the end?
Just my two-cents worth.
Aubrey W Love