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 Vetting00:26 Understanding the Importance of Vendor Vetting01:45 Risks of Not Vetting Vendors03:48 Benefits of Thorough Vendor Vetting05:35 Choosing Vendors for Long-Term Partnerships08:27 Key Questions to Ask When Vetting Vendors09:11 Commonly Missed Checklist Items10:58 Financial Stability and Acquisition Risks12:03 Account Management and Vendor Relationships12:56 Understanding Vendor Partnerships13:08 Evaluating Company Culture15:38 Compliance and Vendor Due Diligence17:16 Key Questions for Vendor Assessment21:39 Reevaluating Vendor Relationships23:41 Final Thoughts on Due Diligence