Reliance on third parties is substantial and continues to gain momentum. Companies are becoming increasingly comfortable migrating core and strategic functions to external providers with the objectives of improving efficiency, accelerating growth, and enabling operational transformation. In a vendor relationship you need to know you can count on the other party when crisis strikes. To achieve comfort around vendor resiliency and recoverability, it’s all about transparency.
Some of the overarching vendor resiliency questions might include the following: