Many organisations use thousands of third parties (for example suppliers, outsourcing partners, distributors, etc.) to meet their business objectives and stay competitive. With a significant reliance on an intricate network of third-party relationships, there is increased exposure to a growing portfolio of risk, cost and performance-related and regulatory pressure.
A successful third-party risk management (TPRM) programme relies on a strong technology platform to deliver key TPRM activities, from detailed risk assessments to remediation tracking. We will share with you the TPRM technology market trends and examples of the tools and software designed to facilitate effective management of third parties and the related risks.