Best Practices for Ongoing Vendor Monitoring

Third-party risk management doesn’t end when you sign the contract to onboard a new vendor or service. As regulations evolve, market conditions change and unforeseen circumstances take effect, it’s important to keep tabs on your vendor population to make sure risk hasn’t creeped back into your organization. Ongoing vendor monitoring is just as critical as pre-contract due diligence, but many organizations struggle to keep pace with a vendor population that only gets larger and larger each year.