Remove Acceptable Risk Remove Cybersecurity Remove Outsourcing
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Third-Party Due Diligence Best Practices

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Third-party due diligence is the process of vetting suppliers, distributors, and service providers using a risk-based approach to uncover any red flags that may indicate a danger to your business. Making a list of all prospective third parties and assessing their risk is the first step in the third-party due diligence procedure.

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Important KPIs for Successful Vendor Management

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Beware, however: vendor risk management is a complex process unto itself, requiring ongoing monitoring and measurement. When onboarding a new vendor, ask to see the metrics and dashboards it uses for operational performance and cybersecurity monitoring. What Are the Most Common Vendor Risks? Cybersecurity.