About this Whitepaper
Risk is inherent in business regardless of industry or company size. From increasing industry and government regulation to supply chain disruptions due to pandemics and cyberattacks, organizations have adopted risk management procedures and deployed technology to help mitigate risk.
However, increased pressure for organizations to consistently deliver competitive quality goods, services and products has resulted in greater reliance on third-party resources, components, and goods.
Now more than ever, organizations must place an even greater emphasis on managing third-party risk to maintain supply chain continuity–from suppliers to customers.
But it can be difficult for organizations to form a complete picture of third-party risk and compliance exposures given the complexity of third-party ecosystems and shifting requirements for compliance and reporting.
Effective third-party risk management requires organizations to overcome not only strategic challenges like a fast-changing business environment, geopolitical considerations, macroeconomic drivers, government policies and regulation, and multi-layer other-party business relationships, but also organizational silos that can make it difficult to pull together a comprehensive risk-based profile for a third-party supplier or group.
Contract Lifecycle Management (CLM) remains an under-utilized technology for risk management.
Download this whitepaper to learn how CLM technology plays a vital role in empowering companies to leverage market-leading risk management approaches to better score third-party risk and synchronize data sources to drive change across the organization.