Tech for Business

The Vendor Due Diligence Process


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In this episode, we are joined by Kyle, the President and CEO, and Todd, the COO and CISO, to discuss the critical importance of vetting your vendors. Kyle and Todd delve into why businesses need to meticulously select their vendors, the risks of failing to perform due diligence, and the benefits of building strong partnerships. They also offer practical advice on key questions to ask during the vetting process and emphasize the importance of ongoing vendor evaluation. Whether you're part of a small to midsize business or a larger enterprise, this episode provides valuable insights into maintaining security and ensuring long-term vendor partnerships.

00:00 Introduction to Vendor Vetting

00:26 Understanding the Importance of Vendor Vetting

01:45 Risks of Not Vetting Vendors

03:48 Benefits of Thorough Vendor Vetting

05:35 Choosing Vendors for Long-Term Partnerships

08:27 Key Questions to Ask When Vetting Vendors

09:11 Commonly Missed Checklist Items

10:58 Financial Stability and Acquisition Risks

12:03 Account Management and Vendor Relationships

12:56 Understanding Vendor Partnerships

13:08 Evaluating Company Culture

15:38 Compliance and Vendor Due Diligence

17:16 Key Questions for Vendor Assessment

21:39 Reevaluating Vendor Relationships

23:41 Final Thoughts on Due Diligence

...more
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Tech for BusinessBy Computer Integration Technologies (CIT)