With increased regulatory scrutiny, continuing cost pressures, active investors, and a vigilant public, it’s important to have a clear understanding of the inherent risks that come with external business relationships.
By proactively addressing third-party issues, you can reduce your organisation’s exposure to risk while achieving stronger relationships with service providers.
When assessing third-party relationships, it’s critical to have a strong understanding of how the desired benefits – whether improved agility, increased performance, or cost savings – could be weakened by unforeseen vulnerabilities.
Initially, we work to understand what information assets will be maintained by external parties and the value of them from a legal or contractual and IP perspective.
This understanding is used to amend our Supplier Audit Framework to evaluate suppliers based on scoped information and protection required.
Following a response from your supplier, we evaluate the maturity of controls implemented by third-party suppliers and inherent risk. Results of analysis are delivered to you via a written report, thus arming you with the right information about your third-party relationships.
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