360° Risk Intelligence in the Extended Enterprise

The modern business is dependent on third-party relationships and requires real-time and continuous awareness of its current and future risk landscape. A manual and point-in-time approach to third-party risk intelligence compounds the problem and can lead to elevated risk exposure. It is time for organizations to step back and move from legacy practices, defined by manual processes and periodic assessments, to a third-party risk intelligence architecture that includes integrated full-spectrum real-time feeds of situational awareness that impacts the extended enterprise and operations. 

Delivering 360° Third-Party Risk Situational Awareness

A dynamic business environment requires the capability to actively manage risk intelligence and fluctuating risks impacting the organization and its relationships. The old paradigm of uncoordinated third-party risk management is inadequate given the volume of risk information, the pace of change, and the broader operational impact on today’s business environment and operations. Organizations need to address third-party risk intelligence with an integrated strategy and an enterprise-wide information architecture that provides 360° third-party risk situational awareness. The goal is to provide actionable and relevant risk intelligence to support third-party risk governance and oversight to ensure the organization is agile, resilient, and acting with integrity in its business relationships.