The views and opinions expressed in this article are those of the thought leader as an individual, and are not attributed to CeFPro or any particular organization.
By Desmond Campbell, Programme Lead, Vodafone
Why is continuous monitoring a valuable tool to monitor risks?
Vendor Risk management is crucial to any organisation as they bring good services and expertise which does not exist within the company, but in the present environment more scrutiny is being focused on Vendor/Client relationship especially around risk.
The Vendor has access, in some cases, to more information to an organisation than employees of that organisation. With this in mind, organizations need controls in place to ensure they are always assured that risk associated with the Vendor or outsourced services remains as low risk as possible during the life of the relationship. This can only be done through regular due diligence and monitoring of the service and Vendor.