The 8 Stages of the Outsourcing Process: Know Your Vendors

You can outsource the business function, but you can't outsource the risk.

Regardless of the business function your institution outsources (information technology, operations, finance, human resources, legal, sales, or marketing), it does not outsource the associated risk.

The responsibility for all compliance requirements resides with your institution even when your vendor is responsible for day-to-day management of certain products or services.

Whatever the size of your institution, your outsourcing program will move through the 8 stages outlined in this white paper. Find out what the 8 stages are and how you should follow them to mitigate vendor risk.