In daily life as an individual, you rely on others – from neighbors to police to lawyers and judges to armed forces – for protection against threats of all kinds. At the same time, you also bear responsibility: the more careless or inclined toward risk you are, the less secure you become.
MeMbers of rMA’s Third-Party Risk Management Round Table are experienced leader-practitioners, individually and collectively creating emerging best practices in third-party risk management. As the round table’s facilitator, subject matter expert, and member of the Steering Committee, it’s exciting and rewarding for me to be integral to this evolution.
Offshoring and outsourcing don’t exist in a vacuum. These are processes that take advantage of and are influenced by technology, politics and the larger economy. Look at the last big round of offshoring at the start of the century. It didn’t just “happen” without any reason. Very specific changes facilitated this age of outsourcing.
Recent stories by, amongst others, the BBC detailing large, well-organised and presumably very profitable scamming organisations targeting UK TalkTalk customers have hardly helped the already-lowly reputation of offshore contact centres - but may unfortunately be only the tip of a perilous iceberg.
In a multi-partner service delivery model, transparency and visibility are essential to an effective security and supplier risk management (SRM) strategy. Yet a wide range of evidence suggests that this transparency is sorely lacking in many cases. According to a study by the independent Ponemon Institute, 73 per cent of suppliers that experience a data breach don’t notify other vendors in the supply chain, while more than a third (37 per cent) of suppliers don’t notify their customers.
Emerging technology services have revolutionised the sourcing industry. These disruptive technologies like autonomics, interface technologies, big data analytics and other computing technologies have permitted smaller companies to successfully challenge established incumbent businesses. Specifically, as incumbents focus on improving their products and services for their most demanding (and usually most profitable) customers, they may exceed the needs of some segments and ignore the needs of others.
Cloud has been both an exciting and disruptive force in the technology market for the last decade. It has acted as a critical enabler for a host of other influential technologies and this will continue and accelerate in 2017.
Compliance – complexity and uncertainty drives the need for flexible, adaptive strategies
Earlier this year, Outsource editor Jamie Liddell had the privilege of chairing a roundtable dinner hosted by Capgemini, and attended by some of the most prominent advisors in the UK outsourcing community. The evening saw a huge variety of topics covered - but took place under Chatham House Rules, meaning that the conversation did not take place "on the record".
Only imagination limits the opportunities available from our rapidly connected world. It’s hard to think of a household product or work device that could not have some benefit from being connected to another application via the internet of things (IoT), which adapts based on data from another source. Unsurprisingly, Gartner identified that the number-one strategic technology trend for 2016 would be the so-called device mesh: the ever-expanding set of end points that people can use to find information and communicate online.