Virtual Corporation's Vendor Risk Consulting
21st-century companies rely regularly on service providers and IT suppliers to support key areas of business. The last thing you want to worry about is a third-party vendor failing your organization in times of crisis, or worse yet, causing the crisis! It’s imperative that your vendors be just as prepared as you are. Our consultants have worked with and have the experience to understand firsthand the need for vendor risk assessments, coaching and running exercises to ensure that the vendors you work with are just as ready as you are in times of crisis.
Our experienced technology risk advisors work with you, giving advice that will assist you to improve your third-party risk management program. Your organization also receives the benefit of legal, financial, and cybersecurity specialists who provide guidance throughout the overall risk-management process.
Our services include:
- Program Coaching
- Outsourced Program Management
- Program Design
- Program Current State Assessments
- Vendor Continuity Plan Design and Completion
- Risk Assessment Design and Completion
- Supply Chain Dependency Analysis
- Vendor Recovery Plan Exercises
There are a variety of ways that your business can get hurt, and many times a crisis happens when you least expect it. Your third-party vendors can often be a necessity to your business, but even they can be a threat to your operation. Through our vendor risk assessment and vendor risk management program, you and your employees will be thoroughly educated on how to plan as well as how to react if a crisis occurs because of a third-party vendor such as IT suppliers and service suppliers.While third parties can increase productivity and provide financial benefits, you retain responsibility for their inherent risks.
We have assisted clients who need help:
- Formalizing or improving processes and controls around third-party and vendor risk management
- Prioritizing vendors or other third parties for initial risk assessment, data security assessment and ongoing monitoring
- Conducting audits to improve or provide assurance over controls pertaining to systems created by a third party, vendor management, and third-party data security.
Virtual Corporation’s experienced advisors can protect you from damaging your reputation by helping you understand your third-party relationship risks and implementing effective controls to increase performance and compliance. We design creative solutions that account for evolving regulatory demands and increase visibility into your relationships.
Our qualified team of technology risk consultants is uniquely equipped to provide third-party and vendor technology risk consulting services. We provide value-added, high-quality, meaningful recommendations needed to develop and execute an effective third-party risk management strategy. Through decades of successful technology risk consulting experiences, our advisors understand your business and technology requirements, while taking a holistic perspective to address your immediate and future state concerns regarding the effective use of technology across your business. Our people, depth of resources, differentiated third-party risk management methodology, and experience in your industry combine to provide comprehensive and effective solutions for your technology risk consulting needs.
Virtual Corporation wants you to be able to have the ability to maintain, or recover, after a disruption no matter the cause. To learn more about our consulting services and how they can help you be ready for any situation, contact us today.