Organisations face increased exposure ad liability for data breaches in third-party relationships. The challenge is that a TPRM program involves a coordinated effort across operational risk, control and compliance functions, as well as the line of business that owns the relationships. This requires a facilitated collaboration between departments, such as procurement, IT security, privacy, legal, corporate compliance, and others. Furthermore, there is a greater regulatory focus on accountability for third party risks.
SureCloud has developed the TPRM Maturity Journey Guide to help communicate and assist organisations in accelerating their TPRM program and processes.
This download will help you understand where your organisation is in its third-party risk management journey and how to move forward. The guide includes:
Your organisation may be using an Excel sheet to keep on top of its suppliers. This may be okay to start with, but as your business grows, so does the list of suppliers. Challenges businesses face without a dedicated third-party risk management tool include:
You may want to use a cloud-based TPRM solution to keep track of your suppliers so you can focus on where it matters.