What Is Third-Party Management?
Outline Definition
Whether public or private sector, organizations today rely increasingly on third parties to deliver mission-critical goods or services. In the United States, “third-party management” tends to be considered as simply tactical suppliers, so the term is underutilized and underleveraged there. The management of tactical suppliers in United States is considered to be essentially a software question, with software products supporting contract management disciplines.
In Europe, the concept of third-party management is more nuanced, emerging from the schools of risk management and compliance. Here, third parties are considered to be any organization with which our company has a contractual ...
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