Expert Panel: How Do You Manage Vendor Risk?
The requirements of a successful vendor risk management program vary widely based a number of different factors, such as industry, company size, regulatory environment, location, and more. And yet, the primary goal that every organization seeks is the same: reduce risk. But it’s not that easy, and vendor risk management is not that simple.
As you build and scale your program, there are many challenges and opportunities you’ll encounter along the way. And while reducing vendor risk is the primary objective, there are more benefits still to be uncovered, including: conducting faster vendor evaluations, monitoring vendor performance, and holding vendors accountable to their contracts – to name a few. We’ve gathered a panel of industry veterans to discuss what works (and what doesn’t) when running a vendor risk management program. So, what can you learn from others who’ve had success?
Our panelists will discuss:
- What best practices have benefited your program most?
- What would you do differently if you could implement your program again?
- What challenges should you anticipate when managing vendor risk?
- How do you plan to improve your program over the next 3-6 months?