Risk Management & Compliance Solutions: In a crisis, will your vendors’ be resilient?

April 2014

At a glance

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:

  • Does the vendor’s resiliency and continuity program cover the goods and services used by your organization?
  • Does the vendor’s recovery prioritization and timeline for these goods and services align with our organization’s recovery needs?
  • Do the threats, risks, and potential impacts identified by the vendor match those in your own vendor analysis?
  • Could your organization be affected by the same risk events that threaten your vendors?
  • Does the vendor’s crisis management plan include timely customer notification to allow the customer time to effectively respond to a potential interruption of goods and services?

We’re here to help

Phil Samson
Phil Samson
Partner, Business Continuity Management Solution Leader
Tel: +1 (214) 754 7269
Connect with Phil Samson on LinkedIn