A confident look at how organisations tackle risk which can easily infiltrate a business when using internal or external Suppliers, such as vendors or any other type of 3rd party supplier. Having a solid strategy around risk is key to a successful business to help avoid the many security challenges and risks pitfalls. Our eBook explores a newly disruptive and unique alternative to traditional risk management techniques.

1. T H E S H I F T F R O M R I S K M A N A G E M E N T T O R I S K A S S U R A N C E
Puzzled with
Risk Assurance?

2. Organisations of all sizes tackle risk everyday.
It’s a “risk-taker-culture” which progresses us forward and really drives
business growth. Then there are the type of business risks you just don’t
need in your business.
The type of risks which are born from within the business or infiltrate your
business when using internal or external Suppliers, such as vendors or any
other type of 3rd party supplier for goods and services.
Having a solid strategy around your risks is key to a successful business.

3. You may be faced with using traditional risk management
methodologies and tools causing confusion.
Businesses understand they have to live with the dynamics of risk that
exists all around them.
These potentially damaging business risks managed through traditional
methodologies, places ever increasing new demands on a businesses
resources.
As businesses move through increasingly complex relationship landscapes
with an ever-growing list of regulations and a constantly changing set of
requirements, inaccurate outcomes will become a reality.
The crossroads a business then needs to consider is;
“How do we manage introduced risk
and learn to achieve Risk Assurance?”

4. Businesses would prefer not to manage risk through spreadsheets, emails,
loose hard-copy documentation or even a specialised GRC box. It places
additional strain on internal resources creating impact on core duties and
other responsibilities.
Managing relationship risk manually, can cause issues due to the distant
and transactional nature of communications; placing further strain on a
business’s ability to achieve and observe true risk assurance which is such
an imperative in todays business environment.
Are you managing business risk through ?
• Spreadsheets
• Share-drives
• Hard-copy documentation
• Emails
• GRC box
1. Traditional Risk:
Continue to manage risk manually or
through a GRC Box?
Businesses are then simply faced with 2 choices.

5. Our solution shifts risk thinking from the traditional “reactive risk”
approach to a risk assurance model through collaborative sharing. Sharing
of risk knowledge brings together all counter-parties in the relationship to
work together to quickly assess risk and assist where needed.
Relationships. Risk. Simplified.
We have created a
‘Collaborative Community’
platform allowing businesses
to immediately realise risk
assurance through sharing
risk knowledge amongst
subscribers of the community.
Collaborative Community delivers true Risk Assurance
2. Simplified Risk:
Shift managing risk to a ‘Collaborative
Community’ platform solution
Community
Collaborative Platform
Business Units

6. Simplified Risk:
Collaborative Community
Platform Solution
Collaboration with real-time updates by Suppliers keeping
them accountable.
Community platform keeping up-to-date risk knowledge.
Pre-Assessed community of “collaborative risk knowledge”
for instant onboarding.
All on-line and available in one place with up-to-date
Supplier profiles.
Instills an ongoing program to ensure Suppliers maintain
their certified and compliant services.
After a set period of time, risk mitigation plans are
followed up by our partner Vivid Security. Fully tracked so
remediation actually happens.
Always-on-connection with the community in a
collaborative supportive manner of working together.
Relationships. Risk. Simplified.
Traditional Risk:
Manual methods or
GRC Box
Complex to manage, time consuming, continual
need to chase Suppliers. (incl vendors / 3rd Parties)
Annual assessments and shifting requirements are
costly and typically manual.
Start from scratch, resource intensive and highly
time-consuming.
Informal manual processes are costly and the
results are inconsistent information, producing risk
gaps.
Lack of repeatability and traceability for assessing
Suppliers with no basis for recommendations.
Unstructured follow-up actions create the potential
for security exposures which are never fixed or tested.
Disconnected centralised assessment programs
from Suppliers lacking collaboration, creating
communications issues and complexity.
Overheads. Costly. Complicated.
Assessments
Assessment Lifecycle
Supplier Onboarding
Supplier Inventory
Industry Checks
Remediation Tracking
Collaboration

7. We are here to help your business.
Vivid Assurance is at the forefront of disruptive thinking when businesses
think about business risk.
We’re turning risk management on its head by delivering risk assurance
knowledge through a collaborative community of subscribers, greatly
reducing the workload for everyone involved. We are helping companies
deal with their risk problems by extending their reach within their
relationships.
This extended reach is achieved through our Collaborative Community
Platform that brings together the end-to-end assessment and assistance
required to find and fix risk related issues within relationships. The
collaborative community approach delivers immediate results for our
customers by sharing risk knowledge attained through the collective
subscribers efforts to share their assessment results.
Our company is committed to assisting all business with implementing
risk assurance throughout their relationships.
About Vivid Assurance
For more information
please visit our website
www.vividassurance.com.au