When establishing the practice of third–party risk in your business, most usually reach for the most widely and cost-effective tool out there: the trusty spreadsheet. As an organization evolves, these practitioners have to deal with the ever-growing burden of managing more and more complex third parties at various levels and points in the organization, each with their specific risks, controls, and contractual obligations. These then become more complex as one attempts to tie these silos of information together, and additional data sources such as contract values and supplier projects are incorporated. Necessitating additional office tools such as Access and Word to support Excel. Perhaps even a few in-house tools are developed to ease that burden alongside the numerous emails and various different versions of attachments.
Our experts have pulled together key topics to help, including:
The guide also includes checklists and answers to some common questions you need to consider when selecting your Third-Party Risk Management software solution.