Vendor Management / Technology Service Provider Reviews
Outsourcing data processing or other specialized services can provide significant financial and operational benefits to an organization. However, reliance on outsourced services may represent significant inherent risk. A vendor management program that provides initial and ongoing assurances that a vendor is positioned to meet expectations is necessary to mitigate risks from outsourced services arrangements.
The scope of the vendor management review is designed with Management to provide assurances that the outsourced service provider is performing per contractual expectations and is positioned to continue to do so. Relevant industry standards and regulatory guidance will be incorporated in the assessment as appropriate.
The goal of this service is to review both the state of the client’s vendor management program as well as to provide a point-in-time assessment of specific vendor relationships.