Maturing third-party risk management with next-gen risk intelligence data and capabilities
A look into the role of emerging external data and capabilities in third-party risk management (TPRM)
In recent years, third party use has drastically increased as companies realize the value of utilizing third parties to drive efficiencies and foster innovation to enable focus on core competencies. As the third party ecosystem grows, so does the exposure to increasingly sophisticated threat actors capitalizing on technology advancements.
Organizations should transform their approach to third party risk management to effectively manage risk at scale, enable quicker decision-making when risks arise or incidents occur, and ultimately adapt to a rapidly changing risk landscape and increasing regulatory expections.
In this paper, Deloitte explores how your organization can effectively mature toward a more dynamic TPRM program that shifts focus away from static or point-in-time responses to more proactive risk sensing. From methods for integrating risk intelligence data and capabilities across your TPRM lifecycle, to enhancing risk management processes, we will dive into various strategies for enabling smarter decision-making both for your TPRM program and your broader organization.
This whitepaper outlines the following:
- Keeping pace with the changing third party risk landscape
- Emerging capabilities to meet changing risk management needs
- Applying next-gen capabilities across the third party lifecycle
