What Is Third-Party Risk? A Quick Look for Beginners
Internal and external business risks are a given for every organization, regardless of size or industry. And many external risks are from third parties contracted to provide products and services. Third-party risks can be just as impactful to an organization’s success and well-being, yet these types of risks are often misunderstood or left unmanaged. This can lead to significant consequences for an organization and its customers.