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Selling 3rd Party Risk Management

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Businesses today are very complex. They can no longer rely solely on internal processes and resources alone to support their customers. Third parties are being used to provide critical services and products to organizations. This unfortunate side effect of using third parties is that they increase an organizations' exposure to risk. For such an important potential side effect, organizations need a consolidated view of all their third party relationships and to understand which third parties are most critical to their ongoing operations.

This dependence on third parties provides an opportunity for the RSA Archer Third Party Risk Management use case. One way to help identify an opportunity for third party risk management is with these discovery questions. How do you identify your high risk suppliers? How do you track everywhere third parties are being used, why they're being used, and who's responsible for that relationship? Explain how you assess risk for each third party across all of the products and services they deliver. How do you evaluate third party controls in place to mitigate the risk their products and services pose to your organization?

The benefits of selling the Archer Third Party Risk Management use case is that it provides the ability to assess third parties using a risk based approach. Customers can inherently assess their vendors across a number of factors such as financial risk, information security risk, and reputational risk. Vendors can even log in directly to Archer to complete risk assessments, automating the complete process. RSA Archer's dashboard and reporting capabilities give customers the ability to track progress through the entire vendor review lifecycle.

I hope this information was useful as you continue to search and hunt for new opportunities selling third party risk management. Thank you.

Video Details

Duration: 2 minutes and 24 seconds
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Language: English
License: All rights reserved
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Views: 8
Posted by: william.duncan on Feb 6, 2018

Selling 3rd Party Risk Management

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