Free Third-Party Profiling and Tiering Template

If you can’t manage what you can’t measure, then it stands to reason that you can’t measure what you can’t see. And in our current economic landscape not being able to see, manage or plan for disruptions in your supply chain could lead to severe consequences for your business. That’s why Prevalent is providing several free resources designed to help organizations establish more consistent policies for supply chain resilience – so that when we emerge from the coronavirus crisis we’ll better prepared for the next disruption.

Customizable Template for Profiling and Tiering Your Vendors and Suppliers

Our customizable Third-Party Profiling and Tiering Template includes guidance on how to identify, define and tier third parties based on several criteria, including whether each supplier:

• Provides a core component of your products or services
• Has access to sensitive information, including PII, PCI or client data
• Would create a negative impact on your business impact based on a continuity event
• Is a single-source supplier

The template includes a simple questionnaire that you can use to determine third-party criticality (rated High, Medium, Low) and corresponding risk level (rated 1-Red, 2-Amber, 3-Green). Once you have a rating for each supplier, you can make better-informed decisions on next steps. For instance, supplier ratings can be used to prioritize assessments of business resilience and inherent risk, as well as other third-party risk management activities.

> Download the free template to benchmark and standardize your third-party tiering

Weekly Distribution of Pandemic Resources

Our pandemic planning resources are distributed weekly and can be freely modified to reflect your unique needs. The templates incorporate best-practice baselines across industries, and therefore can be integrated with any other risk assessment content you may be using.

Here’s what’s been published already, and what’s coming:

• March 24: Pandemic Resilience Questionnaire
• March 30: Building a Business Resilience and Continuity Plan
• April 3: Pandemic Communications Template Kit
• April 21: Remote Working Policy & Employee Training Kit
• Today: Third-Party Profiling and Tiering Template
• May 8: Escalation tree examples for effective internal communication paths
• May 15: Recovery point objective (RPO) and recovery time objective (RTO) definitions and criteria for critical services
• May 22: Broader business resilience policies encompassing key governance objectives

Prevalent Is Here to Help

The coronavirus crisis is likely presenting you with unprecedented challenges – both personal and professional. We hope these templates makes your job a little bit easier in the face of this crisis. Once the dust settles, keep in mind that Prevalent also offers a free, one-hour third-party risk management program maturity consulting session. In the meantime, everyone at Prevalent wishes good health to you, your team, and your families.