Alastair Parr discusses recent developments in third-party risk management.
FCPA's Tom Fox interviews Alastair Parr, SVP of Global Products & Delivery at Prevalent, about topics including:
- Why is a comprehensive 3rd risk management solution not simply a nice to have but a must to have now?
- Why is 3rd party risk management so much critical after the pandemic and the Russian invasion of Ukraine?
- Improving the UX for TPRM.
- Why has simplifying the UX for TPRM eluded most providers so far?
- How can the UX be improved so the information which is the most vital and most relevant is captured and more importantly can be actioned?
- How can the process of obtaining TPRM information to implementing controls to manage the risk be improved?
- How can companies automate data gathering by using a single targeted assessment by building in targeted compliance mappings for legal or regulatory requirements?
- Other areas of compliance such as modern slavery and human trafficking?
- Do you see continued evolution of 3rd party risk management into 2025 and beyond?