Inquesta can help you establish a simple program, a "standards body" or a VMO, backed by management tools to help you operate your program.
Business relationships with vendors, outsourced providers, distribution partners and other business associates are essential in today’s extended enterprise. These relationships require that information be shared, and risk accrues whenever sensitive information is shared with or processed by third parties.
Managing third party risk is vitally important in the current regulatory environment because outsourcing your company's functions does not relieve it from the responsibility of safeguarding sensitive information.
Our consultants can either examine an existing VM program to assure compliance with existing regulations, or establish a vendor management program that suits the size and complexity of your organization: from a simple set of policies, procedures and management tools for use by a "standards body" or committee (composed of employees from accross the company); to a more formal, vendor management office (VMO). Whatever is the right solution for you, we can organize and train your vendor management team to oversee purchasing policies and evaluate, select, manage and monitor the performance of vendors on an ongoing basis.