The Vendor Due Diligence Process

In this episode, we are joined by Kyle, the President and CEO, and Todd, the COO and CISO, to discuss the critical importance of vetting your vendors. Kyle and Todd delve into why businesses need to meticulously select their vendors, the risks of failing to perform due diligence, and the benefits of building strong partnerships. They also offer practical advice on key questions to ask during the vetting process and emphasize the importance of ongoing vendor evaluation. Whether you're part of a small to midsize business or a larger enterprise, this episode provides valuable insights into maintaining security and ensuring long-term vendor partnerships. 00:00 Introduction to Vendor Vetting 00:26 Understanding the Importance of Vendor Vetting 01:45 Risks of Not Vetting Vendors 03:48 Benefits of Thorough Vendor Vetting 05:35 Choosing Vendors for Long-Term Partnerships 08:27 Key Questions to Ask When Vetting Vendors 09:11 Commonly Missed Checklist Items 10:58 Financial Stability and Acquisition Risks 12:03 Account Management and Vendor Relationships 12:56 Understanding Vendor Partnerships 13:08 Evaluating Company Culture 15:38 Compliance and Vendor Due Diligence 17:16 Key Questions for Vendor Assessment 21:39 Reevaluating Vendor Relationships 23:41 Final Thoughts on Due Diligence