3rd Party Vendor and Supplier Risk Assessments
In recent years, partnerships with vendors or suppliers have become more complex and integrated, causing organizations to realize the need and importance of periodically conducting Business Continuity, Information Security and Physical Security Assessments. Additionally, there’s been heightened awareness, sensitivity and regulatory requirements regarding performing regular due diligence with your most critical vendors or suppliers. That said, significant progress has been made related to the various tools that can automate and simplify completing the assessment questionnaires by your vendors and aggregating their responses consistently and accurately for your organization to review and assess the results.
Assessing your vendors Business continuity capabilities
Businesses today are increasing their reliance upon vendors or suppliers for critical services or products and as a result, have become more vulnerable to be impacted because of an outage that their vendor or supplier experiences. This situation is only magnified when such businesses know little or nothing about the Business Continuity capabilities of their vendors or suppliers.
assessing your vendors information security program
Our Information Security assessment process is designed to assist organizations in understanding potential risks, gaps and threats that may exist within their vendor or supplier’s technology landscape. These security risks, if not addressed, may result in increased outage duration which could harm your organization’s reputation, financials, operations and customers. Our team will work with members of your team from risk management, internal audit and information technology to determine how your organization’s risk appetite align with your vendor or supplier’s technology capabilities.