Spring Cleaning Guide to Reducing Vendor Risk
Are your vendors safe to do business with? This question is one that many organizations have trouble answering. If you’re not sure which vendors you work with, how you work with them, or if they have the right safeguards in place – you’re not alone.
Ultimately, the goal of any third-party risk management program is to reduce vendor risk. This is easier said than done as risks come from many angles, whether it’s data breaches, compliance violations, ethical concerns, or countless other issues. A well-run vendor risk management program eliminates these uncertainties and offers risk managers the clarity they need to feel confident when outsourcing key tasks to vendors.
So, how do the most successful TPRM programs reduce vendor risk?
In this webinar, we’ll explore:
- The most common threats and risks when managing vendors
- How to prioritize risks and take an efficient mitigation approach
- Practical steps to mitigate your more pressing vendor risks
- How to build automated mitigation workflows across key stakeholders
- Risk reduction best practices developed by leading risk management professionals
- Lessons learned when building vendor risk management programs