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Efficient and Effective Third-Party Management
2018-12-06 @ 10:00 am - 11:00 am CST
Best Practices in Efficient and Effective Third-Party Management
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. Organizations are a mixture of contractors, consultants, temporary workers, agents, brokers, intermediaries, suppliers, vendors, outsourcers, service providers and more. The extended enterprise of third party relationships brings on a range of risks that the organisation has to be concerned about. Managing third party risk has risen to be a significant regulatory, contractual, and board level governance mandate. Organizations need to be fully aware of the risks in third party relationships and manage this risk throughout the lifecycle of the relationship, from on-boarding to off-boarding of a third party.
Third parties are strategically important to business strategy today, yet with their opportunity comes risk. Gathering and sharing information from many internal and external resources has become more and more complex in today’s business environment. Businesses are siloed and do not always communicate with each other. Breaking down those silos is important to establishing your vendor/third party community and extended enterprise.During this webinar, you will learn how you can integrate strategy, process, and architecture to better manage third party relationships, and drive better efficiency, effectiveness, and agility in your third party programs. Particularly:
- Importance of third-party management
- Challenges with third-party management today
- Impact of continuing a non-integrated, non-automated approach
- The right way to manage vendor/third party risk
- Power of a flexible framework of tools for managing risk vs. a traditional manual document-centric approach
GRC 20/20 Presenter
Michael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.
Fusion Risk Management is a provider of cloud-based software solutions for business continuity, integrated risk management, IT disaster recovery, and crisis and incident management. Its products and services take organizations beyond legacy solutions and empowers them to make data-driven decisions with a comprehensive and flexible approach through one system. Fusion and its team of experts are dedicated to helping companies achieve greater organizational resilience and mitigate risks within their businesses.