In today’s complex business environment, vendors play a key role in the success of an organization. However, relying on vendors brings added risk. Managing these vital relationships and those risks is important to ensure third-party products and services comply with applicable laws, regulations, and security best practices.
Developing a process for evaluating both new and existing vendors is key. This can help reduce risk by performing ongoing classification of vendors, performing due diligence, risk assessing, and managing contracts effectively by staying on top of important dates.
Kristen Olsen is a Sales Engineer with Quantivate, a leader in governance, risk, and compliance (GRC) solutions for financial institutions. She has held multiple positions in the financial sector, including roles with Salesforce, ADP, and Symetra, and holds a degree in Business Administration from Gonzaga University.