18 Apr 2017 | News | SYNERGi
Multiple factors have conspired to profoundly change today’s third party risk landscape. The rise of cloud services has meant a significant increase in the number of third parties entrusted with sensitive data for millions of businesses. And new regulations such as EU GDPR have increased pressure on businesses to closely manage and monitor how, where and when third parties are using their data.
The stakes have never been higher, and the risks associated with not properly auditing or recognising where third party data risks exist have never been greater. But, one major thing hasn’t changed – the best way to protect yourself, your business and your data against third party risk is still thorough auditing.
Auditing is essential for:
But, with today’s risk landscape evolving so rapidly, traditional approaches to auditing are no longer able to cut it for many businesses. For auditing to be successful today, your processes need to be:
Ticking all of those boxes is difficult when you rely on manual auditing and risk management processes. Thankfully, there is a better way – automation.
With the help of sophisticated new technology and platforms, thousands of businesses have automated third party auditing and risk management, enabling them to:
It’s an appealing prospect for businesses of all sizes, and something that many companies are keen to explore. But, what exactly do you need to do to automate third party risk management and auditing?
To help, we’ve created a simple guide telling you everything you need to know to get started. Automation can look very different across different businesses, but our guide can help you find the perfect solution for your company, based on your needs.
Our guide to third party risk management automation is available to download by clicking here. Take a look today and discover a new approach to risk management, built for today’s rapidly-changing third party landscape.