New whitepaper released: Navigating third-party risk in energy and utilities
NTT DATA and 3rdRisk have released a whitepaper exploring Third-Party Risk Management (TPRM) in the Energy & Utilities sector. As the sector increasingly relies on external partners for efficiency and innovation, effective TPRM is essential to safeguard operations. The whitepaper provides insights into key risks, benefits of robust TPRM, and NTT DATA’s tailored solutions to address industry-specific challenges.
NTT DATA, in collaboration with 3rdRisk, has released a comprehensive whitepaper addressing the growing importance of Third-Party Risk Management (TPRM) within the Energy & Utilities (E&U) sector. As a critical component of the global economy, the E&U sector encompasses power generation, transmission, distribution, and the supply of essential services such as water and gas. Ensuring the resilience of these services is fundamental to the operation of countless industries and the day-to-day lives of people worldwide.
However, as the sector increasingly relies on external partners to achieve cost efficiencies, access specialised expertise, and implement innovative technologies, the complexity of its risk landscape has grown significantly. Technology providers, contractors, suppliers, and service providers now play crucial roles in operational processes. This expanded ecosystem brings enhanced capabilities but also introduces heightened third-party risks that require effective management.
The whitepaper offers critical insights into:
- The growing importance of Third-Party Risk Management in the E&U sector.
- Key risks faced by organisations operating in this space.
- The tangible benefits of implementing robust Third-Party Risk Management practices.
- Specific challenges associated with managing third-party relationships in the E&U sector.
- NTT DATA’s approach and innovative solutions to effectively address these challenges.
“Managing third-party risk is no longer optional for the E&U sector; it's essential. With increasing dependence on external partners, a proactive approach to Third-Party Risk Management is critical for maintaining resilience and safeguarding operations,” said [Name, Title, NTT DATA].
This whitepaper serves as a valuable resource for organisations seeking to enhance their Third-Party Risk Management frameworks, improve resilience, and optimise their operations in an increasingly interconnected environment.
Click here to download the whitepaper.
Looking for an easy way to manage third-party risks?
Get a quick introduction to our third-party risk platform and make informed decisions today.
Want to read more?
Read more helpful content on third-party risk management and compliance.
