The value-add of leveraging data analytics to mitigate third-party risk is, at this point, common knowledge. Access to real-time data updates and adverse media alerts as well as a single source of truth up and down the chain of command are just a few advantages. Many technology solutions are now equipped with prebuilt integrations, artificial intelligence, and natural language processing.
Still, a tool is a tool. You must know how to wield it to make good use of it—and avoid injury.
