This vendor management risk assessment template helps you identify and mitigate potential risks in your vendor relationships before they become costly problems. It tool goes beyond basic vendor evaluations by incorporating specific risk factors including criticality of services, complexity level, access to sensitive information, and potential business impact.
When a new financial service provider requires evaluation, for example, you can systematically assess their security controls, business continuity plans, and insurance coverage in one structured workflow. According to KPMG, almost 73% of organizations went through significant third-party disruptions within three years. This template provides the systematic approach you need to prevent your organization from becoming another statistic.