Tag: WK ELM Solutions

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 . . .

Designing a third party management program starts with defining the third party strategy. The strategy connects key business functions with a common third party governance framework and policy. The strategic plan is the foundation that enables third party transparency, discipline, and control of the ecosystem of third parties across the extended enterprise.