Business Continuity Risk
Companies rely on third parties for much more than just back-office tasks. Third parties provide valuable products and services that can significantly impact customers and, in turn, positively or negatively impact the top line. Understanding where, when and how quality, delivery, service levels, and even third party viability may impact the customer experience is a challenge, given the complexity of so many touchpoints, different processes and interdependences to manage.
Simplify the Complexity
Hiperos 3rd Party Management (3PM) provides a simple process to continuously monitor how third party failures impact customers so companies can implement effective remediation and contingency plans. Hiperos 3PM enables companies to:
- Manage performance based on a flexible framework to access hierarchical or granular drill-downs by location, business unit and weighting
- Automatically and continuously monitor the impact of risk elements related to operational, transactional, financial and geopolitical information
- Capture third party abilities and competencies to help create contingency plans
- Model third parties by type and level (including subcontractors of third parties)