The third-party vendor risk assessment template gives you a standardized methodology to evaluate external vendor risks before they impact your organization. Use it to quantify vendor risk levels across cybersecurity, financial, and operational domains. When onboarding critical infrastructure providers, you can identify security gaps requiring contractual remediation before finalizing agreements.
According the Ponemon Institute, 59% of organizations have had to grapple with data breaches because of a third party. Implementing structured vendor risk assessments has become essential for maintaining security and regulatory compliance.