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Risk Management

Critical Capabilities for IT Vendor Risk Management Tools

Critical Capabilities for IT Vendor Risk Management Tools
 

  • The importance of IT vendor risk management (VRM) is escalating as sourcing, procurement, vendor management, risk and security leaders look to improve their response to increasing regulations, program maturity and residual risks while vendor engagement expands.
  • VRM solutions are evolving beyond process and workflow automation, with some offering vendor risk assessments as a service and some providing access to verified vendor risk assessment data through marketplaces or shared exchanges.

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