Third Party Governance and Risk Management
Global Survey 2016: The threats are real
As organisations increasingly depend on third parties to gain competitive advantage, third party governance and risk management (TPGRM) is emerging as a significant board level topic.
We surveyed 170 C-Suite leaders from global organisations on the key issues and trends impacting their approaches to managing and mitigating third party risk.
The results have been surprising and indicate that while investment in TPGRM has increased year on year, there are significant gaps in the tools, technologies and processes that must be addressed to mitigate the potential negative impacts on reputation, earnings and shareholder value.
The results of our survey demonstrate how long-term strategies such as business agility, access to skills or knowledge, innovation or other sources of competitive advantage, are driving organisations to enhance the management of risks within their global third party ecosystems.