4 Vendor Management Challenges – and How To Conquer Them

**Executive summary:** This article outlines how organizations should modernize third-party vendor risk management by prioritizing risk-critical vendors and adopting four key practices: automating vendor risk assessments to reduce unmanaged risk, augmenting and validating self-reported questionnaires via independent risk-based assessments, implementing continuous monitoring beyond point-in-time checks, and ensuring regulatory compliance across the vendor ecosystem to reduce overall vendor-related security risk.