Do you want to be on the safe side when delegating functions to third parties? With a robust process supported by state-of-the-art technology and not reliant on the capabilities and efficiency of individual employees? And all the data collected properly documented and easy to report to different stakeholders?
You might be wondering if it’s even possible to manage and oversee such a complex challenge?
The good news: it is! Below we show you how to easily manage outsourcing risks by monitoring all delegates / delegated functions step-by-step!
Pick your potential delegates and gather all required information. Do this within due time, maintaining clear oversight of all outstanding tasks.
Leverage on previously provided documents.
During gathering, you can focus on the quality of risk assessment. From now on this is not a hassle anymore, with the automatically created guidelines and consistent quality of due diligence.
Quickly assess whether third parties are qualified and capable of undertaking the delegated function in question.
Once you’ve finished the initial due diligence, it’s easy to make the right decision.
Make sure you work with the right partners, reducing operational risks and ensuring compliance with regulation.
Now that you’ve accepted the delegate, you want to make sure their information remains accurate and up-to-date according to a risk-based approach.
As a part of ongoing review, preconditions are put in place which allow timely detection and follow-up on potential issues with delegates. If an issue arises, you will be notified. And otherwise you can feel comfortable due to the robustness of the process.
Easily connect related information in a single application, leveraging on previously provided information and benefiting from overall risk scorings for each delegate.
A single application with all relevant reports available in just one click. Yes – all of them!
No time-consuming preparation is needed before audits because you have access to all these reports anytime.
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