To protect your organization’s operations, data, and finances, an enterprise risk management framework must go beyond internal vulnerabilities and take vendor relationships into account. One-fifth of data breaches involve third-party companies. The vendor risk assessment process is a critical part of effective ERM or GRC. What Does the Vendor Risk Assessment Process Involve? Vendor risk … The Vendor Risk Assessment Process Explained
Understanding 4th Party Risk Management Many companies execute 3rd-party risk management (TPRM) programs to protect themselves. However, 4th-party risk management plans are fast becoming critical to prevent serious security and financial damage. It’s possibly due to a lack of attention to this issue that user account breaches surpassed 20 million in Q2 of 2023. Since … Understanding 4th Party Risk Management
How To Approach Third-Party Compliance Working with business partners or vendors can save time and money, increase revenue, and bring you expertise that you may not have in-house. However, working with third parties always involves a range of risks, including the risk of a lack of compliance with laws or policies that your business must … How to Approach Third Party Compliance Risk
