While vendor risk management has long been an area of concern for most all organizations, it’s been only in the last 5 years that it’s become a top priority. Regulators, company boards, executive management, and now customers are looking for organizations to do more and provide a higher level of assurance about the security practices of their vendors. But how? Deploying a trust but verify strategy sounds like a good idea, but what will it take from a people, process and technology point of view and will current solutions in the marketplace be sufficient in today's environment.
In this webinar we discussed:
The evolving regulatory landscape regarding Vendor Risk Management, and the practices organizations are adopting to meet these more stringent demands.
What 5 things you can put into practice immediately to start forming the foundation of solid Vendor Risk Management program.
Current challenges, trends, and strategies to effectively build and maintain your Vendor Risk Program.
This evaluation form is essential in order to monitor and measure the supplier’s performance for businesses to reduce the cost associated with the activities, analyze risk management and maintain a scope for constant improvement in selecting the suppliers.
Vendor Risk Management is an extensive arrangement that identifies and minimizes potential threat to the business and legal liabilities related to 3rd party vendor hiring for information technology (IT) services/products.
Asking the right open-ended question requires capabilities. In this blog, we discuss 4 ways that can be used to create effective open-ended questions.