Large volumes, multiple different risks, constantly changing regulations and multiple stakeholders can sometimes make supplier risk management a daunting task. Simplify the complexity in a highly efficient manner.
With ever increasing dependency on third parties to deliver critical goods and services the importance of being resilient no longer stops with your organisation. Resiliency in supply chains is no longer a nice to have, organisations need to go deeper and wider and make it part of the culture.
Visibility is only as good as your data and your integration between systems. Serious risk management requires a serious foundation, once in place automation can be effectively used.
Risk management and 2nd line of defence teams are too small to look into every 3rd party relationship. Automation and self service capabilities helps them focus on where the risks lie.
It only takes a single incident to destroy a brands reputation. Risk management is a constant process which relies on up to date information and ongoing checks as data changes.