Driven by increased focus from regulatory bodies, volatile consumer demands and the need to manage costs, organizations around the world have growing interest in outsourcing various processes, services, and materials. As the web of third parties grows across geographies, organizations often find it difficult to not only manage large volume of third parties, but also the associated risk exposure. Recent third party related incidents like data breaches, counterfeits, non-compliance to FCPA, Anti-bribery, bankruptcy, and many others have caused significant financial losses, reputational damage and fines to the organizations associated with them.
Often, third parties give indications of trouble, but organizations are unable to identify and gain control over third party risks due to unstructured risk monitoring processes, fragmented information and lack of resources to keep track of third parties.
As the impact of unknown third party risks can be massive, organizations need to adopt definitive strategies and technology to quickly identify third party risk trends and address them with appropriate tactics for risk mitigation.
In this webinar, experts will provide insights on how third-parties and the associated risks can be mitigated with an effective TPRM program and how third party risk information can be tied to enterprise risk and the overall business objectives.
This webinar will help: