What Are the Biggest Challenges in Third-Party Risk Management Today?

[Tejal Malusare]

As organizations become increasingly dependent on third-party vendors, managing vendor risk has become more complex than ever.

We're interested in understanding the challenges that security, compliance, procurement, and risk teams are facing today when managing third-party relationships.

Some common challenges we've observed include:

• Collecting vendor assessment information
• Tracking remediation activities
• Maintaining audit-ready documentation
• Monitoring vendor compliance status
• Managing risk across a growing vendor ecosystem
• Coordinating between multiple stakeholders and departments

For those involved in vendor governance or risk management:

• What are the biggest challenges your organization faces?
• How do you currently assess and monitor vendor risks?
• Which processes are the most time-consuming?
• What improvements would you like to see in your current approach?

We'd love to hear perspectives from different teams and learn how organizations are addressing these challenges.

[Nikola Perisic · Accepted solution]

Welcome @Tejal Malusare 

Customer service management is suitable for those who explicitly want to have the communication with the external customers. Atlassian is very direct about their data security and how the data is being handled. It offers a landing page that is highly customizable and it has it's own ready to go AI chatbot that helps the users to get their answers quickly. 

Have you tried using public forms that let you use this exact question with the external clients?