Rohit H
I am a Product Development geek, I love cybersecurity related stuff, I am deep into Third Party Risk Management, I am fascinated by books, I am also a father, a husband and a responsible citizen.
Introduction
A lot of companies depend on Third Parties (Vendors) to offer their own products to external or internal customers. Yes, even as a startup, your success depends on cloud providers like AWS, Azure, GCP or DBMS such as Oracle, SQL, MongoDB etc. List is huge.
If your business depends on suppliers for technology or non-technology products, you expose your business to third party risk. Which is why you need to manage that risk.
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IntelliRisk Monitor
IntelliRisk Monitor searches though 80,000 worldwide sources and hundreds of millions of articles to look for high risk events such as Data Breach, Vulnerabilities, Poor Financial Results, Major Customer Loss, Money Laundering, Bribery/Fraud, Bankruptcy, M&A activity, Significant Layoffs and End of Life Product Announcements.
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Vendor Lifecycle Management
The lifecycle of Third-Parties can't be managed in Excel Sheets, which a lot of companies still do. A Vendor goes through various stages in its lifecycle from Onboarding to Termination and includes, Procure to Pay, multiple assessments such as Risk Assessments, Control Assessments, Cyber Security Assessments, Privacy Assessments, Physical Security Assessments, etc., issue management, Renewals, Performance Management, Compliance, Scorecards, Exit Strategies, etc. the list is huge. Organization of every size need a Third Party Lifecycle Management tool to manage all the aspects
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Third Party Risk Management Articles
I love writing about strategy and third party risk