Create an ongoing and enterprise-wide risk management strategy which ensures third-party providers are a source of strength for your business – not a weak link.
What risks do your third party business relationships present to your organization? Should you initiate / continue your business with them? Are you getting out of the relationship what you signed up for or that was contracted? -- What you do not know about your business partners can hurt you.
It can be difficult to comprehend the sheer size and scope of your third-party network. But even if you do not know exactly who or where they are, you know that those relationships are essential to your business.
Increasing dependence on third-party relationships, coupled with increasing regulatory and public oversight, exposes organizations to a host of new and serious risk and compliance issues. With this shift toward third-party driven business models, managing third-party risk has taken on a renewed sense of urgency. Because responsibility for the actions of your third-party affiliates falls on no one but you. So how can you minimize your exposure to financial, legal, regulatory, operational, reputational and governmental risk?
Whatever the stage of your relationships, we will show you how to ensure third-party providers are a source of strength for your business – not a weak link.