DoubleCheck Vendor Management: Managing Risk & Compliance Across 3rd Party Relationships

Executive Summary 

Across industries organizations are facing global regulatory pressure in 3rd party oversight and due diligence. Organizations are a complex and diverse network of business relationships in which risk and compliance challenges do not stop at traditional organizational boundaries. Third party relationships are critical to business today but introduce significant risk. Organizations fail when they look at the formation of a business relationship and do not foresee that issues cascade and cause severe damage to reputation and exposure to legal and operational risk throughout the ongoing relationship. Third-party management is enabled at an enterprise level through implementation of an integrated third-party management platform. The right third-party risk management platform enables the organization to effectively manage risk across extended business relationships and facilitate the ability to document, communicate, report, and monitor the range of assessments, documents, tasks, responsibilities, and action plans. DoubleCheck is a GRC solution that GRC 20/20 has researched, evaluated, and reviewed with organizations that are using it in distributed and dynamic business environments across industries and of varying size. DoubleCheck has recently updated their Vendor Management solution to the 3.0 version which provides increased capabilities to manage third parties on an ongoing and continuous basis.

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