Third-party Risk Management

We can analyze your current third-party relationships and suggest improvements where needed. Or we can actually manage your third party relations for you and/or train your staff to do so.

Bring third-party risk under
your control

When leveraging services provided by third-party organizations to
augment your business, a certain amount of risk is always present.

We can identify and manage that risk for you. Whether your company
is connected with external entities via APIs or you are entering into a
relationship with new contractors/vendors, we will help you to uphold
the reputation and safety of your business model.

“83% of responding organizations experienced a third-party incident in the past three years, but only 1% consider their organizations “optimized” to address important extended enterprise risk management issues.” – WSJ Risk & Compliance Journal

Compliance risk

Non-compliance due to lapses by a third-party provider will often reflect negatively on your enterprise. We ensure that the third parties and vendors you’re bringing on board are following the laws, rules and regulations put into place to protect consumers. We can develop internal policies and procedures that will guarantee a high level of compliance.

Operational risk

As you allow more third-party providers to integrate their technology into your company’s internal processes, you exponentially increase operational complexity and risk.

We are familiar with the circumstances that cause processes, people or systems to fail and we can implement the necessary prevention measures.

Transaction risk

A number of unknown unknowns – anything from insufficient transaction capacity to inadequate security measures – can lead to unsatisfied customers or to (worst case scenario) legal action against your company.

We make sure that you won’t get blindsided by any transaction risk associated with third-party failure.

Reputation risk

A third-party provider dealing directly with your customer base (or offering a service that can indirectly impact your customer base) is a threat to your company’s reputation.

We can make sure they’re treating your customers right. We can also eliminate variables that can contribute to possible cybersecurity vulnerabilities or customer data leaks.

Geographical risk

Whenever your company engages a foreign third-party service provider, it gets exposed to potential economic, social and political conditions related to the geographical location of that provider.

We can conduct a series of investigations that can help minimize the risk associated with foreign third party-entities.

Contact Us – Your journey starts here
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