This whitepaper is the full Third-Party Risk Management blog series, and is designed to assist those in writing third party questionnaires as part of a TPRM Program.
The whitepaper outlines 5 key steps needed to create an effective Vendor Risk Management Questionnaire, including…
What is the reason for third-party risk management or ‘due diligence’ assessments?
They are the primary mechanism by which organizations are assessing the threats introduced by third parties.
This mechanism relies on two things to be true to be effective:
There have been many articles and conference speakers who have questioned the effectiveness of the due diligence assessment, but unfortunately, the alternatives require alignment to a common standard and/or investment. Neither of which has gained traction and as such, the assessment remains the most popular option. As the organization asking the questions only has limited influence over the responding organization, through contractual obligations and commercial commitments.
We need to look into how the questions are being asked and if any improvements can be made. SureCloud has researched broader practices around surveys and as well as the psychology behind respondents, therefore we have created this paper to help organizations in writing better questions to get better information.
SureCloud is a provider of Gartner recognized GRC software and Cyber & Risk Advisory services. Whether buying products or services your organization would benefit from automated workflows and insight from the award-winning SureCloud platform. All of SureCloud’s service offerings are fully compatible with the GRC suite of products enabling a seamless integration of information, taking your risk programs to the next level.