As we rely more on third parties, the severity and frequency of business disruptions is increasing. Companies have recognized the need to evolve past outdated third-party risk and governance practices such as point-in-time assessments with limited risk categories. Resilient supply chains and operations require incorporating continuous monitoring capabilities across a data-driven, multi-dimensional risk framework.

In the 2021 Spring Virtual Conference hosted by the Third Party Risk Association (TPRA), Supply Wisdom will present a session on Automating Third-party Risk Management (TPRM).

Don’t miss our session.

Automating Third Party Risk Management

When considering a multi-dimensional risk monitoring program, we must go beyond the traditional cyber and financial intelligence domains. Companies must be aware of location-dependent risk along with Compliance, Operations, and even risk from Nth parties.

With the recent enhanced focus on climate and other ESG categories, monitoring programs must be designed to address these new risk components.

Continuous risk data is only valuable if it is actionable – otherwise it’s just noise. Adopting a continuous risk management approach can be trading one problem for another UNLESS enterprises also leverage the powerful tools of data science and automation.

Key Takeaways

Adopting continuous monitoring while leveraging data science and automation:

• Avoid information overload
• Maximize the value of continuous risk intelligence
• Improve ability to monitor and mitigate risks across a wide risk aperture, including the entire supply chain
• Increase supply chain and enterprise resilience

When

April 21, 2021; 05:00 PM ET/04:00 PM Central Time

Panellists

• John Bree, Chief Evangelist & CRO, Supply Wisdom
• Victor Meyer, COO, Supply Wisdom

Register Now