Building a technology strategy for managing third party risks

Technology can be a key driver of an organization’s operational risk foundation. The overall efficiency of your overall third-party risk management (TPRM) program can be determined by how well you use technology to evaluate and manage risk. You need to know which capabilities to look for in a TPRM solution –– and how to navigate common tech strategy challenges. Armed with the right information, you can develop a solid technology strategy to efficiently manage risk while providing valuable insights to inform your decision making

Read “Building a technology strategy for managing third party risks” to understand:

• The top three TPRM tech challenges organizations face, like knowing when to extend your existing application versus adopting something net new
• How each phase of the TPRM lifecycle should be integrated with different technology solutions
• The unique advantages different tech solutions offer to support TPRM programs

The right TPRM technology strategy helps drive process efficiency, transparency and consistency –– enabling key stakeholders to make informed and timely third party risk decisions. Third Party Tracker, a PwC product, is one solution that provides a full-service approach to help you screen and manage third parties throughout the TPRM lifecycle.