Actionable Inventory
In the context of Third Party Risk Management, "Actionable Inventory" refers to a list of third-party vendors or suppliers that a company has identified as having the potential to pose a significant risk to its operations, data security, or compliance with regulations.
This list is called "actionable" because it identifies vendors that require specific actions to mitigate risk, such as implementing additional security controls or conducting more frequent assessments of their activities. By identifying these vendors and the steps needed to reduce risk, companies can prioritize their resources and focus on the most critical threats to their business.
An actionable inventory typically includes the following:
The vendor name.
Contact information.
The type of services or products provided.
The level of risk posed by the vendor.
The specific actions needed to mitigate that risk.
It is an essential component of an effective Third Party Risk Management program, enabling companies to proactively manage and mitigate the risks posed by third-party vendors.
ThreatNG, an all-in-one external attack surface management, digital risk protection, and security rating solution, can help with Actionable Inventory by providing comprehensive visibility of an organization's external attack surface, prioritizing risks through security ratings, continuous monitoring to identify and respond to new threats, and remediation recommendations to update the Actionable Inventory and prioritize risk management activities. ThreatNG's capabilities can help companies create and maintain an effective Actionable Inventory of third-party vendors and suppliers, enabling them to proactively manage and mitigate risks.
