Third Party Risk Management - Consultancy, Assessment & Advisory

Franchises and Extended Sales Networks

Protect brand reputation and ensure consistent service delivery with adaptable Third Party and Fourth Party risk management solutions

Your network or Franchisees provides important strategic business advantages. But it also exposes you to unpredictable and substantial risk from outsourcing decisions made by each individual franchisee.

Despite efforts to standardise policies, processes and supply chains, as independent SMB’s your joint ventures partners and franchisees are likely to create their own ecosystem of supplier relationships – from large national service providers to other smaller, local businesses.

Then, when things go wrong, regulators, press and consumers are quick to hold you accountable. Should a breach occur to valuable Customer or Employee data via a Franchisee or Fourth Party supplier they use, contractual obligations and reparations won’t mitigate the potential damage to your brand.

How can you ensure you can understand and better manage your exposure to fiscal, operational, and regulatory risk from your extended enterprise?

Addressing the Big Risk from Smaller Suppliers

You and your Franchise Partners are likely to develop an ecosystem of local, smaller suppliers – usually small businesses – who rarely have the manpower, expertise, or budget to establish and maintain a baseline of security. Risk assessments questionnaires designed for your largest vendors do not take into consideration the very different infrastructure of a small or medium-sized business or the ability to validate and verify the information provided.

But evaluating the risks posed by smaller third-party and fourth-party suppliers doesn’t have to be difficult. DVV Solutions can provide innovative solutions based on NIST, SANS and other risk-management standards that evaluate internal security controls, including those which represent the most likely avenues for attacks.

Designed with SMB’s in mind, Small Supplier Risk Assessments can be tailored and scaled to meet the variety and complexity of your entire third-party and fourth-party relationships.

Third and Fourth Party relationships that drive the most risks

Service providers – accounting, IT services, service centres, advertising and marketing, leasing, legal and debt collections

Supply-side partners – production outsourcing, research and development, material supplies and vendors, and software development providers

Demand-side partners – distributors and original-equipment manufacturers

Reduced Risk in a Scalable TPRM model

Third-party and Fourth Party risk management is no longer optional and PCI-DSS 3.0, GDPR and other regulatory requirements put emphasis on scaling your risk management programs. With over 16 years’ experience in IT Security, Risk and Assurance DVV Solutions has the technology, process, and people necessary to deliver the highest standard of Third-Party risk assessments.

Our SupplierAssess managed service provides robust on-site and remote Third-Party risk assessments and real-time supplier threat intelligence that can supplement or substitute your existing third-party risk assessment efforts. SupplierAssess will help you truly understand your Third Party supplier risk, remediate inefficient controls and better protect your organisation.

Call today 0161 476 8700

or Submit a Contact Form