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Do You Know Who You Are Working With?
Many organizations are initially reluctant to explore the concept of utilizing external service providers to perform critical business functions out of fear of “losing control” of the process.
Yet, surprisingly, it is many of these same organizations who make this move that fail to implement a basic framework to instill the level of oversight they need and operational controls they desire.
For those who have taken this step, knowing who you are really doing business with and understanding how they go about working on your behalf has not only become a newfound focus of regulators, it is also just good business.