Reinforcing the Links to Strengthen the Chain: Vendor Risk Management

Housekeeping, landscaping, tax preparation, and automobile services are all best left to the experts. Private individuals outsource because it saves time and money, and businesses do the same. The top reasons companies outsource are to lower operational and labor cost, and to focus on their core business functions.1 Outsourcing relieves the pressures of large monetary investments in equipment, technical expertise, and workspaces. However, outsourcing changes the business risk landscape because of increased use of third parties and threats via their ingress/egress paths. The enterprise remains responsible for the security of its assets, irrespective of who . . .