Information technology is intertwined into the fabric of nearly every business function. Communications, HR, Finance, Customer Support -- all of these services are delivered through IT. Simply keeping these systems up and running has become a massive undertaking. Organizations regularly turn to third party vendors, suppliers, and other contractors for support. But outsourcing IT services creates unique security risks and regulators have taken notice. Indeed, numerous regulators have specifically flagged “vendor management” as a key area of focus for their examinations. It is incumbent on companies to have a defensible vendor management program to ensure that external service providers and other vendors do not create unacceptable financial, operational or security risks.
Tensyl specializes in helping clients build defensible supplier management programs. Based on each client’s individual regulatory and business requirements, we perform due diligence during supplier selection, create custom risk assessment matrices, and perform ongoing monitoring and oversight of suppliers.
