Third-Party Risk Management

HOW TO QUANTIFY AND MANAGE INHERENT RISK FOR THIRD PARTIES

While all third-party vendors must be onboarded,
they do not all merit equal attention.

The increasingly connected and global marketplace has led to the rapid expansion of vendor portfolios, spanning many countries, territories, regulatory requirements and more.

It’s never been more important for growing enterprises to establish a universal framework for quantifying and managing inherent risk–the first step in onboarding new vendors. While no organization can expect to eliminate risk entirely, the right framework can help take it down to an acceptable level while establishing the right contingencies in case things go wrong.

This white paper takes a look at how procurement and risk management teams can overcome the challenges of inherent risk and streamline the vendor onboarding process by:

  • Establishing a way to easily identify inherent risk in Vendor Risk Management programs
  • Implementing a standardized, repeatable system for inherent risk calculations
  • Understanding how automation can streamline inherent risk assessments for business success

Download How to Quantify and Manage Inherent Risk for Third Parties to understand how to quantify inherent risk across your business and stop risky vendors in their tracks.


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