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How to vet third parties

Third party onboarding

Daily, many organizations work on processes to control risks concerning their third-party vendors and partners. These processes are often time-consuming and not implemented to achieve the right outcomes and focus on checking the box for solely compliance reasons.

In this white paper, we lift the veil on how to vet your third parties adequately and gain insight into what to do to minimize the risk these third parties pose to your organization.

Most companies use questionnaires to review their prospective new partners and suppliers to get insights into the organization. However, this isn’t as simple as creating a questionnaire and sending it over, waiting for a reply, and evaluating whatever response you received. Vetting third parties demands a company-wide approach that includes various departments to ensure that all vendors are onboarded within the vendor management process.

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Why riskly can help with vetting third parties