Build a digitalization strategy that maximizes the benefits of outsourcing relationships and minimizes third-party risk.
Despite the advantages of outsourcing, unmanaged risks can undercut your organization’s goals and objectives. Intelligent digital tools improve your organization’s risk position, business outcomes, and supplier relationships.
Today, organizations must go beyond treating third-party risk on a case-by-case basis. Automation and intelligent tools reduce human error. They also create a unified framework of policies and procedures to support data-based decisions.
This whitepaper will help sourcing, procurement and finance leaders understand why traditional approaches to third-party risk management need to evolve and the role digitalization plays in mitigating risks associated with outsourcing partners. It outlines the general concepts of a third-party risk management framework and how it can help avoid costly errors, protect your organization, and improve business outcomes