eBook: The Best Practices Guide to Vendor Risk Scoring

Rosalind Morville

When organizations use a standard scoring model for Vendor Risk management, consistency increases, subjectivity decreases and the processes within the program become quicker and more efficient. A consistently used scoring model helps in prioritization of depth and reach in due diligence and helps in the overall effectiveness of risk mitigation because resources are directed toward the vendor relationship that has the most potential risk. ProcessUnity just released an ebook that outlines the latest thinking in vendor risk scoring and scoping as well as key information on how to:

·        Rank vendors by criticality

·        Increase quantity and quality of vendor self-assessments

·        Remediate issues faster

·        Assess overall vendor performance

·        Quickly compile reports for management and regulatory reviews

One key take away from this best practices document is to “keep it simple.”  Scoring doesn’t have to be complicated and complex but should grow with your vendor program and iterate over time.

Another part of the paper looks at inherent risk vs residual risk while yet another looks at numeric scoring vs issue-based scoring… but I’m not going to tell you about that because The Best Practices Guide to Vendor Risk Scoring is worth the read and I don’t want to spoil the end!

Click to download: The Best Practices Guide to Vendor Risk Scoring

The post eBook: The Best Practices Guide to Vendor Risk Scoring appeared first on Risk Management Blog.

Previous Flipbook
eBook: The EU and the General Data Protection Regulation (GDPR)
eBook: The EU and the General Data Protection Regulation (GDPR)

ProcessUnity's guide outlines three simple steps to becoming compliant with GDPR both internally via your v...

Next Video
Best Practices for Due Diligence & Ongoing Assessments
Best Practices for Due Diligence & Ongoing Assessments

Watch the on-demand webinar, hosted by Compliance Week, ProcessUnity and Thomson Reuters and discover the n...

Streamline Vendor Risk Assessments with ProcessUnity

Learn More