Bloomberg Law
April 30, 2018, 11:30 AM UTC

What to Consider When Outsourcing to Third-Party Vendors

Stephen Wood

Legal operations and managing your company’s vendorsThird-party vendors that assume responsibility for a business’ essential – but non-core – functions have become a vital part of most organizations’ day-to-day operations. As a growing number and variety of vendors can increase the potential risks to a company, the management of vendor relationships and risks associated with them has increased in importance. The task of managing third-party vendor risks is typically given to in-house legal departments. In order for an organization to operate a successful vendor management program, in-house teams need to have a clear understanding of the costs and value ...

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