Breaking Up Is Hard to Do: Knowing When to Cut Ties with a Third-Party Vendor

If a relationship isn’t working, especially with your third-party vendors, it’s important to know when is the right time to break up. Whether you like it or not, the value of your brand and your reputation with your customers is closely tied with third-party vendors you work with. While it may seem difficult to know when to cut ties, it can be done in a systematic way..

Your Third Party Data Classification is Outdated (and You Don’t Know It)

Third Party Data Classification is essential to managing a sustainable and efficient business. For most organizations, vendor classification is typically established during initial onboarding based on what information vendors need to have access to at that point in time. Unfortunately, once set up, rarely do organizations reclassify their vendors, potentially exposing their vendor risk management strategy to unnecessary risk..

Your Third-Party Vendor Inventory is Incomplete (And You Don't Know It)

Third-party vendor assessments are often considered the cornerstone of any organization’s third-party risk management program. However, as a recent Rsam survey showed, less than 15% of vendors are being assessed. But the real issue is there is a whole ecosystem of third-party vendors not even being considered for assessment..

Strategic Supplier Risk Management: Value Beyond the Assessment

Supplier risk management is an important consideration across the organization, not only for the technology team. There are times throughout every organization’s supplier risk management lifecycle when it makes sense to reassess who you’re working with and evaluate their value to the business based on vendor risk management best practices..