Companies often find themselves struggling to comply with increased third party risk management program regulations because of the difficulties in obtaining timely and insightful information and the complexity of consistently translating that information into risk decisions aligned with corporate risk appetite. But with a simplified approach to compliance—one that includes narrowing focus, enabling lifecycle management, and leveraging technology and analytics—third party risk management can be an integrated function of your business, and not just a cost of compliance. In this Business Insight, Drew Wilkinson discusses the important issues about third party risk management.
