In our recent webinar, “Back to Basics: Are You Building Your Third-Party Risk Management Programme Effectively?”, our Services Director explores how to build a third-party risk management programme from scratch, for an SME company, “Bananas”.
“Julie”, the Third-Party Risk Manager of “Bananas”, recognises that a formal system needs to be put in place. Julie builds a system for capturing and monitoring this programme, given the limited budget and not quite knowing what she needs. She opted for the cheap and cheerful Excel sheet as a base.
SureCloud’s Services Director (GRC) demonstrates utilising simple forms, built out on desktop software such as Excel spreadsheets, to help you begin to gain control of your supply chain.
This download will help you understand what is needed to map out your third-party risk programme and where you should start. Tabs include: third party register, SAQ log, audit log and exceptions log.
Using an Excel sheet to monitor your third-parties is great for a small start-up business, however there are limitations to Excel, such as:
You may be like “Julie” and find that after running the program for a year or two, it starts to generate its own work and you need to look at a Third-Party Risk Management platform.
Watch our recent webinar to dive deeper into the story. You can watch it on-demand here.