In today’s complex business environment, vendors play a key role in the success of an organization. However, relying on vendors brings added risk. Managing these vital relationships and those risks is important to ensure third-party products and services comply with applicable laws, regulations, and security best practices.

Developing a process for evaluating both new and existing vendors is key. This can help reduce risk by performing ongoing classification of vendors, performing due diligence, risk assessing, and managing contracts effectively by staying on top of important dates.

Learning Objectives:

• Recognize effective vendor management with a centralized platform that includes contract management


• Identify, review, and assign a criticality to all vendors


• Define due diligence and determine risk levels


• Outline efficient ongoing monitoring and management of vendors