Third Party Risk Management Resources
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Streamlining Success: Best Practices for Effective Vendor Management
Blog At its core, vendor management refers to the process by which organizations control costs, drive service excellence, and mitigate risks to gain increased value from their vendors throughout the deal lifecycle. Effective vendor management in business...
Knowledge Process Outsourcing: Enhancing Vendor Management in the Digital Age
Blog Knowledge Process Outsourcing (KPO) is a form of outsourcing where high-value and knowledge-based tasks are transferred to external organizations or vendors. These tasks typically require analytical thinking and expertise in specialized fields such as...
Transforming Risk Management with iTrust
Blog Managing cyber risk has become a critical concern for organizations worldwide in the digital age. As cyber threats evolve, the need for sophisticated and effective risk management strategies has never been more apparent. Enter iTrust, a...
TrustNet’s Response to Log4j Vulnerability CVE-2021-44228
On December 9, 2021, TrustNet security officials became aware of a vulnerability in the Log4j logging framework, CVE-2021-44228. Log4j is a frequently used open-source utility distributed under the Apache Software License used within Java applications to generate...
Vendor Key Performance Indicators
Blog Any successful IT company must have an effective IT vendor KPI management. Regardless of how talented each individual in the company is, tracking the KPI of vendor management is critical for any business to thrive. It’s always been common practice to...
5 Effective Vendor Due Diligence Best Practices
Assessing the reputations of the people and companies with whom you do business has always been standard practice. Formally known as the vendor due diligence process, most successful companies have another party examine how any vendor operates before allowing them...
Vendor Risk Management Best Practices
What Are the Best Risk Management Best Practices? Now that the global supply chain is becoming more complex, and companies are establishing relationships with an increasingly intricate network of partners, third-party risk management is imperative. We recommend to...
What Is “Third Party” in Third-Party Risk Management?
In an era when protecting digital assets is essential for all companies, you must find ways to identify and mitigate risks from your vendors and suppliers. It is your partners, suppliers, and sub-contractors who enable your organization to thrive and diversify. These...
Third Party Data Breaches: All You Need to Know in 2020
What Is a Third-Party Data Breach? In short, a third party breach occurs when a secondary vendor for a product has sensitive data stolen from them. In previous decades, the most common form of the breach was a primary breach, when attacks were on their direct targets....
Third Party Data Breach: How to Prevent and What To Do
These days, companies of all sizes are outsourcing many of their operations to third party vendors. In order for these subcontractors to do their jobs, they must gain admission to some or all of your data, including things like API keys and sensitive customer...
Vendor Management Best Practices
Blog Vendors perform a critical role for most businesses today. When the relationship between an organization and the companies and contractors with whom it does business is managed effectively, all parties reap the benefits. Creating and implementing a...
Vendor Management Policy
If your organization is like most, you utilize the services of third-party vendors to assist you with any number of critical tasks. A carefully vetted contractor is invaluable because of their expertise as well as their compliance to industry standards. However, even...
Third Party Risk Management Certification
There is nothing revolutionary about companies enlisting the services of outside vendors, suppliers, providers and contractors; companies have been engaging in this practice for generations. However, modern businesses do need to confront additional challenges when it...