Effective governance over third parties
Increasingly, organisations are handing responsibility for significant parts of their business, including IT, to third parties, often offshore. Attracted by the potential for a known cost base and greater efficiencies, working with third party vendors also carries substantial risks. The appetite for outsourcing to third parties has not decreased, despite disappointments about anticipated benefits and well-publicised incidents relating to disclosure of sensitive data at the providers. A number of organisations, however, disappointed by less than successful outcomes of outsourcing, have brought activities back in-house.