Communicating and collecting information from third-party partners and vendors is an everyday burden for third-party risk teams, but often there are internal communication gaps that can persist and hinder program potential.

It’s just as important to have clear internal communication and visibility to effectively evaluate how third-parties impact risk exposure and how to appropriately address that risk methodology shared between IT and third-party risk teams can help alleviate manual roadblocks in sharing data, informing, appropriately remediating risk, and leveraging automating to streamline execution.

Key takeaways:

• Enhance the visibility of your third-party risk program and reduce manual data management
• Prioritize engagements with your most critical vendors based on IT risk indicators
• Report and reinforce third-party risk in context of a broader information security program