Third Party Risk Management
We help clients evaluate and manage the risks associated with the extended enterprise, or the ecosystem of third parties in which organisations' operate. We offer services to help maximise the performance of the extended enterprise and optimise software assets through point-in-time solutions and ongoing managed service solutions.
For many organisations, their third-party ecosystem, or “extended enterprise”, is an important source of business value and strategic advantage.
Today, many organisations are increasingly dependent on third parties for business operations that are critical, sensitive and customer-facing. As this dependence increases, so does the associated financial, reputational and regulatory risks across geographies. Without visibility into the environment, operation, or performance of third parties, companies face an incomplete understanding of risks associated with those relationships.
Organisations are using thousands of external third parties to meet their business objectives and stay competitive. With a significant reliance on the third party relationships comes an increased exposure to a growing portfolio of risks, cost, performance and regulatory pressure, which needs to be managed in a systematic and controlled way. Deloitte has invested significantly in what we believe is the leading Third Party Risk Management (TPRM) practice globally. We have the scale, breadth and depth of capability to provide advisory services, risk and compliance inspections and what we believe is the first fully end to end managed service for helping our clients deliver their TPRM activities. Our services span from diagnosing existing TPRM capability; designing TPRM frameworks; building and configuring TPRM tools; deploying TPRM across an organisation; and maintainance and operations.
Contract automation software with predefined standard templates enables the end user to efficiently draft fit-for-purpose contracts that include all relevant compliance requirements and internal sign-offs. Our services include diagnosing the current state and preparedness for automation, designing the implementation plan and developing the project setup, choosing the right technology for to match the needs of the client’s organisation and carrying out the implementation, supporting the deployment across the client’s organisation through training and communication programmes and supporting the daily operation with review, analysis and reporting activities.
Information technology plays a strategic role in digital transformations, aiming to create efficiencies and cost savings throughout the enterprise. Software is the heart of this strategy. We helped write the SAM standards and perform hundreds of license baseline reviews each year. As a neutral third party, we provide a truly objective perspective on monitoring and governing software assets. Deloitte’s SAM services empower you to scale up your management and monitoring of both software consumption and software entitlements to provide effective license positions (ELPs) from your most strategic vendors right up to the entire software landscape. We engage with software vendors through our alliance relationships to understand their most recent terms and conditions, and we train our people on the latest software vendor licensing. Our solution focuses on data quality and on consistency. We have vendor licensing centers of excellence that help us provide our clients with the highest degrees of software optimisation. Deloitte currently manages more than one million assets within SAM tools worldwide (Flexera, Aspera, ServiceNow, Snow and Eracent) for customers across various industries.