Credit: Who is Danny/Adobe Stock More Companies Ditching Piecemeal Approach to Managing Mushrooming Third-Party Risks
"Modern organizations are using more third parties than ever before, and they're taking on more risk than ever before in this ecosystem," Gartner's Chris Matlock said.
February 22, 2023 at 08:17 AM
3 minute read
In-house risk management teams are struggling to contain risk from third parties, newly released research by consulting firm Gartner has found.
In the consulting firm's September 2022 survey of 100 executive risk committee members, 84% of respondents reported that third-party risks had resulted in at least one business disruption in the past year. Those disruptions can include anything from financial losses to increased regulatory scrutiny to serious reputational impact.
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