Archive | Third Party Management Solutions

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Governance, Risk Management and Compliance of Third Party Relationships

One of the greatest challenges upon organizations today is governing third party relationships, particularly the risk and compliance aspects of these relationships. Organizations today are dynamic, distributed, and face constant disruption and this is exponentially impacted by the number and variety of third party relationships in an organization. Consider that over half of many organizations […]

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GRC Archetypes: Third Party Management

Third party management is the capability to reliably achieve objectives, while addressing uncertainty, and act with integrity in and across the organizations third party relationships/extended enterprise (adapted from the OCEG GRC definition). Brick and mortar business is a thing of the past: physical buildings and conventional employees no longer define an organization. The modern organization […]

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Third Party Risk: Gaining Certainty in Global Relationships

One of the greatest governance, risk management and compliance challenges before organizations is managing the web of third party business relationships. Brick and mortar business is a thing of the past: physical buildings and conventional employees no longer define an organization. The modern organization is an interconnected mess of relationships and interactions that span traditional business […]

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Developing a Vendor Risk Management Strategy – Info/CyberSecurity Perspective

Organizations are porous: the modern organization is not defined by brick and mortar walls but is a complex web of business relationships. These relationships span vendors, suppliers, outsourcers, service providers, contractors, consultants, temporary workers, agents, brokers, dealers, intermediaries. It grows even more complex as there are nested relationships in subcontractors and supply chains. Approximately half […]

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Increasing Exposure of Third Party Risks 

The Modern Organization is an Interconnected Mess of Relationships Brick and mortar business is a thing of the past: physical buildings and conventional employees no longer define an organization. The modern organization is an interconnected mess of relationships and interactions that span traditional business boundaries. Over half of the organization’s ‘insiders’ are no longer traditional […]

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The Critical Foundation of Third Party Management is Technology

In previous posts we looked at the following: How to Develop a Third Party Management Strategy How to Define a Third Party Management Process Lifecycle Now we turn our attention to the foundation of information and technology that supports and enables a third party management strategy and process . . . Third party management fails […]

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How to Define a Third Party Management Process Lifecycle

The third party management strategy and policy is supported and made operational through a third party management architecture. The organization requires complete situational and holistic awareness of third party relationships across operations, processes, transactions, and data to see the big picture of third party performance and risk in context of organizational performance and strategy. Distributed, […]

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How to Develop a Third Party Management Strategy

Managing third party activities in disconnected silos leads the organization to inevitable failure. Without a coordinated third party management strategy the organization and its various departments never see the big picture and fail to put third party management in the context of business strategy, objectives, and performance, resulting in complexity, redundancy, and failure. The organization […]

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Enabling 360° Insight & Control of Third Party Relationships

The Extended Enterprise Demands Attention Organizations are no longer a self-contained entity defined by brick and mortar walls and traditional employees. The modern organisation is comprised of a mixture of third party relationships that often nest themselves in complexity such as with deep supply chains. Two decades ago the term insider was synonymous with employee, […]

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A Strategic Approach to Third Party Management, Part 2: Designing an Integrated Architecture to Support Your Strategy

Third party management processes are used to manage and monitor the ever-changing relationship, risk, and regulatory environments in extended business relationships. While third party processes can vary by organization and industry, the common components are . . .

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