Understand your third party’s operating processes to verify they’re protecting their reputation and your own reputation.
Reputation risk occurs when negative publicity regarding your organization's business practices is reported on, often leading to declining consumer trust and negative association. Your organization's reputation and customer trust are normally impacted by a perceived or real breach or inability to conduct business to consumer expectations.
We understand each vendor is different and the risks posed are unique or more significant in specific areas. With Venminder’s Reputation Risk Assessment, we analyze five different groups of vendors, which means there are five versions of our Reputation Risk Analysis service bringing aspects from financial health, consumer complaints, information security and more areas of risk, all wrapped up into one summarized analysis. We make sure to cover all the bases.
Get a Fully Customized Analysis Based on the Vendor Type
Venminder’s Reputation Risk Analysis addresses reputation risk concerns based on 5 vendor types and access levels:
- Critical Vendors
- Critical Third and Fourth Parties Interacting with Non-Public Information (NPI)
- Vendors with Direct Customer Communication
- Non-Tech Vendors with NPI Access
- Vendors with Indirect NPI Access
A Thorough Review of the Vendor’s Operations
Venminder will review the following on each vendor and provide a synopsis of findings as well as recommended next steps, making the Reputation Risk Assessment all-inclusive:
- Policies and Procedures
- Vendor Vetting
- Financial Health
- Information Security
- Regulatory Compliance and Operations
- SOC Report
Be Confident in Risk Results
See the big picture. At a glance, you’ll know if there are key risks posed to your organization that may impact reputation. Reputation Risk Assessment provides a specific risk ranking for each area of your vendor’s operations.
What It Includes
Outsourcing this assessment to Venminder means:
You’ll receive a holistic, expert review of your vendor’s operations and identification of alarming findings that may impact your reputation
You can quickly drill down to the topics and specific items you are most concerned with and identify action items
You no longer need to do the time- consuming back and forth with vendors to gather required data
Remember, a vendor’s operational failures could greatly impact your organization’s reputation if their systems are disrupted for a significant period of time. It’s critical to do your due diligence and know of faulty processes.
Why It's Important
by failing to properly manage your vendor cybersecurity risk, you increase the likelihood of being breached and the regulatory, reputational and financial consequences that come with it.
Download a Sample
Reputation Risk Assessment Sample
Reputation risk occurs when negative publicity regarding an organization's business practices leads to a loss of revenue or litigation. Organizations are responsible for risks associated with the activities of their third parties. See a sample of what our analysts review and report on that can help identify possible reputation risk weaknesses.