Exposure: Managing Third-Party Risk in a Digital World
Turn your GRC program into a true business enabler for digital transformation.
As organizations look for ways to improve efficiency, reduce costs, grow revenue and accelerate the delivery of their unique value to their customers, they often outsource business processes and functions to the cloud.
Moving to the cloud also means putting parts of your value chain into the hands of a vendor and, by extension, that vendor’s vendors. This exposes your organization to all of the risks that exist within those third-, fourth- and nth-party organizations. As a matter of good governance, any organization that operates in the digital world needs a way to understand the risks involved and a way to manage them.
Calculated risk-taking is and has always been the essence of business and route to success, and a strong governance, risk and compliance (GRC) program is the right tool for managing non financial and compliance risk.
But the rich opportunities in Digital Transformation have tempted many organizations to circumvent their GRC program - to rush into Digital Transformation projects without a clear picture of the new risks they are taking on and without the controls needed to mange those risks.
Ken McPherson, Chief Transformation Officer of NewRocket, discusses the risks that organizations are taking on when they take on Digital Transformation and the keys to a high-performance GRC program - one that identifies, quantifies, and qualifies those risks so businesses can make the fully informed decisions that support and drive your organization toward its goals, Done correctly, you can turn your GRC program into a true business enabler for digital transformation.