Third party governance is more crucial than ever. Case in point, more than 41% of surveyed companies sustained a data breach caused by a third-party, and the consequent loss of brand value typically ranged from $184 million to more than $330 million, according to the Ponemon Institute. Karta’s third party governance solution makes you more effective at mitigating risks. Here’s how:
Clarifies third-party relationships
- Catalog and assess third-party relationships and understand associated risks.
- Learn third- and fourth-party dependencies to prevent surprises.
Facilitates third-party monitoring
- Stay current with vendor status and monitor material changes to relationships.
- Ensure that no material risks exist.
Enables consistent management
- Consistently evaluate risks posed by third-parties
- Apply controls, treatments and transfer techniques according to your organization’s risk tolerance.
EXPLORE THE USE CASES
Here are three use cases that can strengthen your third-party risk and performance management program. Take a look:
- Document all third-party relationships engagements, and associated contracts, as well as the business units and named individuals in the organization that are responsible for each third-party relationship.
- More fully document relevant information about the products and services you receive from third parties, including associating products and service engagements to the business processes they support, documenting fourth-parties, proof of insurance, and master service agreements.
- Assess the governance and controls that third parties have in place around the engagements they are delivering to your organization.
EXCELLENT SOLUTIONS EVERY TIME WITH KARTA ASCEND
Ready to modernize and mature your IRM solution? Karta Ascend is how we consistently deliver well-designed solutions on-time and on-budget—and how we avoid the pitfalls and pain you may have experienced elsewhere.
- Proven process
- Deeper technology expertise
- Excellent customer service
- Always competitive pricing
SMARTER SOLUTIONS BUILT ON LEADING ENTERPRISE-LEVEL IRM SOFTWARE
We build IRM solutions on two world-class enterprise platforms: Archer and Onspring. Both are highly configurable, and continuously improved with new features and functionality. As part of our process, we’ll recommend which platform is the best fit with your requirements, business maturity and current and future states.
By specializing in just two software platforms—not the long list that most companies try to manage—we know them better than anyone else and can build smarter solutions for you as a result. What’s more, our entire team re-certifies at the highest level possible every year to ensure your IRM solution employs the latest features and functionality. With Karta, you can rest assured that your IRM solution uses the software to the very best of its ability.
GET A LIVE PERSONALIZED DEMO
Ready to learn more? A live demonstration tailor-made for your use cases will give you a much clearer understanding of the impact a modern IRM solution will have on your organization. It’s also an easy way to get your questions answered and discuss next steps.