What role does geofencing play in third-party risk mitigation, particularly for ensuring vendor access remains limited to approved locations?
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What role does geofencing play in third-party risk mitigation, particularly for ensuring vendor access remains limited to approved locations?
Geofencing plays a crucial role in third-party risk mitigation by restricting access to approved locations. It enables organizations to establish virtual boundaries around specific geographical areas. When vendors are within these boundaries, they can access predetermined systems or data. However, if they attempt to access from outside the designated areas, their access is denied, thus ensuring vendor access remains limited to approved locations. This added layer of security helps prevent unauthorized access and potential data breaches.