What is supplier & partner assurance?
The saying goes that you are only as strong as your weakest link. And that’s all well and good, but what happens when the weakest link is in your supply chain?
For a lucky few businesses, supply chains are reliable constants. However, for many of us, there are numerous issues and setbacks which can negatively impact business output and customer satisfaction if left undealt with. And that’s where supplier and partner assurance comes in.
Supplier and partner assurance can take back control for your business. But how?
- By assessing all of your critical suppliers and partners.
- Providing a RAG status report to guide the steps needed to protect your business.
Why is supplier & partner assurance important?
Almost every organisation relies on outsourced service providers including financial services, HR, and IT operations. And, while many organisations have robust security themselves, it is often suppliers or partners that can let them down.
What does our supplier and partner assurance look like?
When conducting our detailed investigation into the security and capability of your partners and suppliers, our team of experts carry out the following:
Check whether your supplier and partners are operating effectively in accordance with GDPR regulations.
Conduct an audit trail for GDPR compliance, showing that your suppliers have addressed the needs of Article 24 (Responsibility of the Controller).
Take a structured, risk-conscious approach to assessing your suppliers and partners.
Our supplier & partner assurance programme takes place over the course of six days, and includes the following actions:
- A review of your current Supplier Registers (or finance records).
- The development of clear ‘Red’, ‘Amber, and ‘Green’ categories for your suppliers based on their dependencies and criticalities. After which, a RAG report with recommendations and key findings will be put together.
- The development (and distribution) of questionnaires and assurance packs for each level of the supplier. Where required, 1-2-1 interviews can be conducted also.
If you’re a business that could benefit from checking the security of your partners and supply chains, get in touch with our experts today.
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