Looking at the topic of third-party governance and risk management, Deloitte has issued a report on growth, development, and issues within the field. Based on the results of a survey, the report focuses on five key area, offering various findings:
- Dependency and Vulnerability: Organizations remain highly dependent on third-parties, but lack adaptive and coordination management of risks.
- Relationship Management: Although focus on developing tools to predict third party risks are increasing, the underlying data for identifying these risks is still lacking.
- Governance and Risk Management Processes: Even with increasing usage, confidence in third party governance and risk management processes and technology remains low.
- Technology Platforms: Platforms lack central coordination and coverage.
- Emerging Delivery Models: Centers of Excellence are assisting in obtaining key skills and consistency.
Sources:
https://www2.deloitte.com/uk/en/pages/risk/articles/third-party-risk.html
