Vendor List Creation, Classification and Rating

Understanding your vendor’s classification is a third party risk management best practice, but what does this really mean?

In order to understand the risk of your vendors properly, you should assess based on the product or service provided, as well as the level of risk represented to your company. 

This ensures that you’re reviewing each vendor and not accidentally overlooking one.

Download the infographic for:

• The steps to take to classify your vendors
• Different vendor categories and why they're important
• What to do after you’ve risk rated your vendors