Are The PHISH Biting Your Procurement Department?

Posted on November 21, 2022


Great share, Nick Fratto!

Here are some interesting stats from Long View Systems regarding dwell times and phishing:

– According to industry reports, 91% of all information security breaches result from a phishing scheme.

– While 30% of phishing incidents are recognized when they occur, only 3% are reported.

In the context of the above data, 81% of companies reported an increase in email phishing attacks since March 2020. Add into the equation the results of a recent study reporting the average professional spends 28% (2.6 hours) of their day answering 120 emails raises the question: as a procurement professional, how often do you use email to communicate with “external” suppliers?

Regarding the continuing and extensive use of spreadsheets, that is a topic of discussion in and of itself.

So, here is my questions to you: To what degree do you use email to communicate with your suppliers, and how many times have you recognized that you have been “phished?”

Leave a comment here or use the following link to carry-on the discussion in Larry’s LinkedIn comment stream.


Posted in: Commentary