A survey of 100 risk committee members analyzed third-party risk. According to Gartner, enterprise risk management (ERM) teams are struggling to effectively mitigate third-party risk in an increasingly interconnected business environment.
Eighty-four percent of survey respondents said that third-party risk “misses” resulted in operations disruptions. A third-party risk “miss” was defined as a third-party risk incident resulting in at least one of the following outcomes once or more in the 12 months leading up to the survey: