Transferring the risk associated with maintaining and patching a business application to a third-party vendor, through methods such as outsourcing, is a strategic way to manage organizational risk. It offloads the responsibility of maintaining the security and functionality of the application, allowing the organization to focus on core business functions. While contractual agreements (SLAs) and cyber insurance can complement risk transference, they do not by themselves transfer the maintenance risks. Procuring additional security solutions does not transfer the risk; it is a way to mitigate risk within the organization.