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Corporations decentralize their operations by outsourcing various business processes to third parties. However, this does not indicate that organizations can outsource the ultimate responsibility of risks from third parties.
As the third-party network expands, organizations need to improve visibility over third parties and make systems more agile. Any organization can be victimized by an incident at third parties like breach, non-compliance to Anti-bribery, FCPA, anti-slavery and others. Thus, companies are required to scrutinize their third-party relationships and define mandates for effective governance at each stage of third-party management –selection, maintaining a current business profile for all third parties, risk-based assessments, continuous monitoring, contract management, risk mitigation and termination.
Leading organizations are leveraging technology to build resilient third party management programs. During this webinar experts will provide insights on:
- Challenges to managing third-party risk and compliance
- Strategies to enhance third party management processes for greater transparency
- Making the third party management process proactive
- Using technology to improve the efficacy of third party management programs
Speakers:
Sherry Gordon
President
Value Chain Group
Swapnil Srivastav
Marketing Manager
MetricStream