Vendor Risk Management

Vendor risk management (VRM) is the process of managing and planning for the risk created by using third-party products and services. VRM programs are designed to safeguard an organization from disruptions to business performance from these third-party products, suppliers, and service providers. A VRM strategy should include a contract to define the business relationship and responsibilities with a third-party vendor, guidelines for control of data, a plan for monitoring performance against contractual terms, and a method for ensuring that third parties meet compliance requirements defined by industry regulators.

Read more about Vendor Risk Management at the Rsam VRM solutions page