By Doug Stupca
Social Media Coordinator, SCCE/HCCA
Original Presentation by CEB Inc.
- Compliance’s current process for managing third-party risk focuses on setting and enforcing standards for third-party behavior, which places a heavy operational burden on the business.
- Best-in-class programs account for the time and cost considerations that drive business stakeholders’ behavior.
- The best companies make third-party compliance costs transparent, reduce the drag associated with due diligence, and harness the self-interest of third parties to their advantage.