In this world of instantaneous sharing, organizations can outsource a process but they can never outsource the risks associated with it. The impact of reputational damage is greater than ever before, making a proactive, risk-based approach to third-party management a hot topic for corporations, regulators, consumers, and investors alike.
Implementing a risk-based third-party management program requires participation from people at every level of an organization. However, having multiple people involved makes orchestrating the process more difficult. As outsourcing, automation, and customer expectations accelerate the course of business, third-party management programs need to connect and streamline their processes to keep up.
In this eBook, you’ll learn:
- What failures in third-party risk management look like
- The benefits of a risk-based approach
- 7 steps to implement a risk-based third-party management process