Third-party governance and risk management has been saved
Third-party governance and risk management
The threats are real
As organizations increasingly depend on third-parties to gain competitive advantage, third-party governance and risk management is emerging as a significant board level topic.
Deloitte’s extended enterprise risk management global 2016 survey assessed 170 C-Suite leaders from global organizations 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 investments have increased year over 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 organizations to enhance the management of risks within their global third-party ecosystems.