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Stay up-to-date by reading useful articles from industry thought leaders who tackle common challenges and discuss current or proposed industry regulations.

  • Stay up to date on the latest vendor risk management news happening this month. Check out the articles below.
  • A vendor management program is a framework for ensuring vendor relationships deliver value without creating unnecessary risk. A strong vendor management program leverages tools, processes, workflows, and clear guidelines to help your organization maximize the benefits of outsourcing while protecting itself from harm.
  • Key performance indicators (KPIs) help measure, monitor, and manage your third-party vendors’ performance, helping you spot delays, quality issues, and rising costs before they become larger issues. Let's dive into what KPIs are, how to use them in vendor risk management, and examples of KPIs to use.
  • Stay up to date on the latest vendor risk management news happening this month. Check out the articles below.
  • A third-party inventory is a critical tool to effectively manage third-party risks. Creating an inventory ensures your organization has visibility into its third parties and outsourced products and services. Your organization will be better positioned to identify, assess, manage, and mitigate third-party risks. This blog covers how to create and manage a third-party inventory.
  • Like every business process, third-party risk management (TPRM) is built on steps. When organizations use a consistent approach to managing third-party risk, processes are more effective and efficient. It ensures every third party undergoes the same process during onboarding, ongoing monitoring, and offboarding. Let’s explore the steps of third-party risk management and how to apply them.
  • Third-party risk management (TPRM) is a constantly evolving practice. As regulatory expectations change, your third-party inventory expands, workloads increase, the challenge of adapting and scaling your program grows.
  • Failing to address your organization’s third-party risks can have serious consequences. Picture this: your organization is a ship sailing smoothly through calm waters. The dangers of reputational damage, financial losses, and operational disruptions loom like dark clouds on the horizon. If you're not ready to navigate these turbulent waters, the impact can be devastating, leaving your organization struggling to regain stability.
  • Outsourcing activities and services to third-party vendors has become a common practice for most organizations. However, these relationships often come with risks that need to be mitigated. After all, you wouldn’t want to work with just anyone without checking their credentials, right? Third-party risk management (TPRM) is the practice of identifying, assessing, mitigating, and monitoring the risks in your third-party business relationships.
  • For decades, organizations have been evaluating, selecting, contracting, partnering, and un-partnering with third-party vendors as a normal course of business. Managing the risks that come with these vendor relationships requires constant vendor oversight throughout the engagement.
  • Stay up to date on the latest vendor risk management news happening this month. Check out the articles below.
  • Nearly all organizations depend on a network of external vendors, suppliers, and service providers to enhance and manage their business operations. Partnering with trusted third parties can enhance your organization's performance in areas such as procurement, logistics, technology, and specialized services. By utilizing their expertise and resources, organizations can often improve operations, reduce costs, and concentrate on core competencies.
  • Due diligence is a critical component of effective third-party risk management (TPRM). Effective due diligence requires gathering a diverse range of information from third-party vendors to assess their risk management practices and controls accurately. The Standardized Information Gathering (SIG) questionnaire is a commonly used tool for this purpose.
  • Developing the right vendor onboarding process is a crucial step in effective vendor risk management (VRM). The onboarding stage of the VRM lifecycle consists of three key phases – planning & risk assessment, due diligence, and contracting. This vendor onboarding process will set the foundation for the entire vendor relationship and ensure you’ve properly identified and assessed the risks that need to be managed.
  • For every third-party vendor an organization uses, there are often many employees, fourth parties, and nth parties behind it. The current business landscape is becoming more interconnected as organizations rely on vast networks of vendors, suppliers, and contracts.