Proactively Identify and Mitigate Vendor Risk
The need for investing in a proactive vendor risk management program that delivers long-term ROI is now, before risks turn into consequences.
CIOs are faced with increasing pressure to successfully deliver IT projects that meet business needs on time and within budget while depending on many new and unproven technology vendors.
- Every vendor poses every type of risk to the organization. Each type of risk can change and fluctuate. They can be aggravated by the constant change of external and internal factors.
- Organizations are unable to keep up with expertise in identifying risk. IT leaders are relying on an increasing volume of third-party technology vendors and outsourcers to meet the rapid pace of change within IT.
- Risk management is being given second priority, creating a reactive environment. Priorities are being given to daily tasks, pushing risk management to a secondary importance and thus diverging from a proactive environment.
- Our program educates your organization on risk management, enabling you to identify, classify, and assess all risk. This results in minimizing the chances of financial or legal repercussions that might result from risk bias.
- Our approach helps you understand and manage regulatory, security, operational, compliance, and financial risks. We help manage contracts, terms and conditions, resourcing constraints, and data security that can cause additional complications above the routine scenario.
- Our program will provide the insight to convert a reactive environment for risk to a proactive environment that helps your organization stay ahead of the game with vendor relationships.
- Our program will provide the expertise in risk that will help you perform vendor background checks, see the gap in risk management, and generate a standard operating procedure for any unplanned occurrence.
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