Have a listen to this fantastic chat with Brad Hibbert, Chief Operating Officer & Chief Strategy Officer of Prevalent, a leader in third party risk management.
With all organisations looking for ways to streamline operations and focus on their core skillsets, there has been a massive uptake over recent years in outsourcing / co-sourcing or just plain contracting out elements of the business.
Whilst this realises many efficiency / cost benefits, you can't outsource the organisations responsibilities or legal obligations. Most importantly, any incidents / errors by the third party often lead to reputational damage to your own organisation.
Brad talks about the methodology they use to qualify third party providers - including an initial assessment process and then ongoing monitoring - providing a 360-degree risk profile of your third-party vendors.
A must listen for any organisation relying on third party providers!
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