Today’s businesses must work with third parties to achieve success. Working with third parties introduces inherent risks that extend the risk management requirements beyond the walls of your company. As a result, companies must be vigilant in managing risks associated with third parties that are critical to success. Ensuring that external service providers or partners do not create the potential for business disruption or negative impacts on overall business performance is a key part of managing risk. Third parties you engage must take the necessary precautions to protect your business by managing the inherent risks that impacts your business. Minimizing negative impacts introduced by third parties is the key reason for implementing a strong TPRM program.
Vistrada’s Third Party Risk Management solutions support businesses that must assess, monitor and manage their exposure to risks arising from their use of third parties that provide products, services, and/or have access to your business sensitive information. There are many drivers contributing to the increased demand for TPRM solutions and ultimately a clients’ need to establish a third party risk management program:
Vistrada’s Third Party Risk Management solutions cover the entire third party risk management life-cycle including services to collaborate and help you: