You are only as strong as your weakest link. You can spend a career or the long history of an organization building your reputation only to have it shattered in a moment when something negative happens because of a vendor. You could find your organization going viral for all the wrong reasons.
A vendor could unexpectedly shut their doors or experience a business impacting event, causing operational deficiencies leading to bad customer experiences. Or, a vendor’s faulty security controls could lead to a data breach, causing fear to your customers that you’re not a safe partner.
Doing due diligence, including analyzing key documentation, on your vendors protects your reputation. The Exchange provides access to not only key information about a vendor’s controls and financials, but the analyzed component of the due diligence work as well, allowing you to see if any scary scenarios could damage customer and stakeholder expectations.