A Comprehensive Approach to managing Third Party Risk
DVV Solutions, Shared Assessments and Prevalent have teamed up to offer the Third Party Network as a comprehensive program for Third Party risk management across the UK and Europe. The network is built upon a collaborative, membership-based “Complete Once / Share Many” model of risk assessment and intelligence.
Within any industry or geographical region there is always a high concentration of common IT and data supply chains. Each individual client organisation then performs its own program of time- and resource-intensive risk profiling, assessment, analysis and remediation with huge overlaps of duplication and repetition.
And with around 60% of risk professionals’ time spent on assessment collection rather than understanding, mitigating and managing risk it is time to find a new model for more effective and efficient Third Party Risk Management. That is where the Third Party Network can help.
By sharing the cost, effort and output of risk assessments, evidence collection and reporting members of the Third Party Network can make significant and immediate improvements to their program’s efficacy, scalability and manageability.