How to do a Risk Assessment for Your Disaster Recovery Playbook
Last Updated on July 17, 2025 by Narendra Sahoo Risk
Outsourced Third-party services come with their share of risk. They often present varying levels of risk to an organization they associate with or to the organizations they provide services. While at times the risk could be almost insignificant, at times there are chances that it could also possibly hold a huge risk to the organization. So, businesses often conduct a third-party risk assessment to determine such associated risks. Vendor Third-Party Risk Assessment is a technical process of evaluating such risks associated with outsourcing services to a third party. The assessment helps you gauge the level of risk associated with third-party services. The findings of the assessment will help you evaluate and factor in all considerations when it comes to outsourcing a particular product or service to a third party. Such assessment findings and reports are crucial for organizations to take strategic business decisions. The Vendor Third-party Risk Assessment helps determine specific areas of risk that you may want to monitor. VISTA InfoSec offers Vendor Third-Party Risk Assessment for such organizations looking to make an informed decision on outsourcing services.
Our experienced team of advisors and assessors sits with your team to discuss, analyze, and define the objectives of performing Vendor Third-Party Risk Assessment.
Prior to evaluating the third-party vendors, we understand your business and the reasons for hiring a vendor and discuss with your team to explain all the types of risks you could face when entering into a business agreement.
Together with your team, our assessors determine the risk criteria based on which we assess your vendors for the specific service. We develop risk criteria for your third-party assessments and set format and scoring criteria for every evaluation.
In collaboration with your team, we gather information relevant to the assessment goals before conducting the risk assessment.
We conduct thorough vendor third-party risk assessments which involve assessing the vendor as a company and assessing the service you intend to avail from them.
If required based on the TRM requirements we also review the SLAs to verify whether vendors perform as expected.
We conduct a complete analysis of risks identified during the assessment to determine the impact on your business.
Based on the risk findings and analysis we determine and classify the level of risks as high, medium, or low-risk based on your risk criteria.
We identify risks, and provide you with a detailed report compiling the summary of the assessment, list risks identified, the potential impact of the risk, and score them based on their severity.
We verify whether the vendors are compliant with various regulatory requirements and standards that they must meet for your organization to consider outsourcing.
A Vendor Third-Party Risk Assessment systematically evaluates a vendor’s security controls, compliance posture and operational practices to identify exposures that could affect your organisation’s data, systems or compliance.
Any organisation outsourcing critical services — SaaS, payment, cloud, or managed services — should run vendor risk assessments to avoid supply-chain breaches, ensure regulatory compliance and reduce operational disruption.
The purpose is to verify vendor reliability, assess control effectiveness, quantify residual risk and produce an action-focused remediation roadmap that enables informed procurement and risk-acceptance decisions.
It uncovers security gaps and compliance failures before they impact you, prioritises remediation by business impact, and provides evidence required for auditors and customers — reducing breach risk and contractual exposure.
Benefits include clear visibility of vendor risk exposure, prioritized risk classification, data-driven procurement decisions, optimized resource allocation for remediation, and stronger evidence for compliance and audits.
Last Updated on July 17, 2025 by Narendra Sahoo Risk
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