Managing Third-Party Risk In Times of Crisis
The international calamity incited by the crisis is unprecedented. Businesses across the globe are facing enormous uncertainty as they grapple with sudden supply chain disturbances, rapid regulatory changes, and the acute loss of customer demand.
The crisis, like all crises, places companies, professionals, and the systems and processes they have built, under extreme stress.
The good news?
Stress is incredibly potent at finding the weaknesses in a process or system and with that in mind it’s imperative for those managing supply chains and vendors.
Amidst all this stress, there’s an uptick in fraud and risk. While the international aftermath of the pandemic is beyond calculation thus far, it’s clear that the cause of opportunistic corruption will not dissipate anytime soon.
Download this whitepaper to explore:
- Should companies cut back on their standard procedures?
- The importance of leadership in ethics and compliance
- Contingency planning and application of technology in managing third-party risk
- Navigating compliance for opportunities in the future