Reimagining third-party risk management
In this series, we explore how organizations in Canada can optimize their approach to risk by strengthening the business case for third-party risk management (TPRM), clarifying accountabilities around it, and leveraging common technology platforms to build more mature extended enterprises.
In an increasingly interconnected global business landscape, the organizations with the strongest—and most secure—ecosystems will have a significant advantage. To achieve this competitive headway, Deloitte’s report, Focusing on the climb ahead: Third-party governance and risk management, reveals that many companies are using risk to power performance by reimagining the third-party risk management (TPRM) function.
This blog series explores the critical role TPRM plays not merely as a compliance requirement for regulated industries, but as a way to drive organizational value in every sector by improving organizational efficiencies, reducing costs, and boosting brand awareness. Here, we examine how companies can enhance their approach to risk by strengthening the business case for TPRM, clarifying organizational accountabilities around it, and leveraging common technology platforms to build more mature extended enterprises.
Canada’s moment: How shifting TPRM trends are opening new doors for business
To address the evolving demands of expanding business ecosystems, companies across the globe are revisiting their third party risk management (TPRM) technology frameworks—and uncovering new, and more innovative, ways to address both emerging risks and opportunities.
TPRM: From value preservation to value creation
In today’s global business environment, no organization is an island. To compete in this interconnected landscape, you need a strong ecosystem—and an effective third party risk management (TPRM) function that’s not only capable of managing the downside of third-party risk, but strategically leveraging its upside as well.
The organizational imperatives of TPRM
With companies across the world searching for new ways to get ahead—either through enriched customer experiences, the expansion of market share, or sustainable growth—it’s becoming increasingly clear that the benefits of a robust third party risk management (TPRM) function aren’t limited to regulated industries.