Building a Scalable Vendor Risk Management Program
Building a Scalable Vendor Risk Management Program
22 PagesThis eBook outlines strategies for developing a scalable Vendor Risk Management (VRM) program, crucial for managing risks as businesses expand and integrate more third-party vendors. It highlights the limitations of traditional VRM processes, which are often manual and inadequate for continuous risk management, and suggests leveraging BitSight's solutions for enhanced scalability. The five key steps to build a scalable VRM program include establishing a robust foundation, mapping and prioritizing vendor inventory, developing scalable risk assessments, utilizing data for informed decisions, and measuring program success to maintain executive support.
