OUTSOURCING MANAGEMENT

Always in Full Control over in-House and Outsourced Activities

The escalating demands for efficiency and oversight underscore the vital importance of strategic outsourcing management, particularly within the financial services sector. With BIC GRC, you can efficiently navigate outsourcing risks, ensure compliance with due diligence, and strategically prepare your company for a sustainable future through meticulously crafted continuity and recovery plans.

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Outsourcing Management

Lead Your Organization Towards a Secure and Sustainable Future

  • process intelligence icon

    Strengthen your oversight

    Identify and comprehensively analyze all potential outsourcing risks, subjecting them to continuous monitoring for proactive and effective mitigation strategies.

  • Ensure regulatory compliance

    Determine your precise risk capacity and maintain full compliance with legal and regulatory mandates (e.g., BAIT and MaRisk frameworks).

  • continuity icon

    Safeguard business continuity

    Boost operational efficiency, proactively address unforeseen challenges with service providers, and ensure business operations run smoothly even during turbulent periods.

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Managing Outsourcing Activities for Optimal Results

Third-party management

BIC GRC simplifies the oversight of external partners and outsourcing service providers. This entails identifying potential vendors, assessing their capabilities, and efficiently negotiating and storing contracts. Effective third-party management involves spotting risks early, keeping an eye on performance, and following compliance closely. The main goal is to make sure outsourced services meet your company's standards while keeping risks low.

Contract management

BIC GRC makes it easy to centrally manage and monitor all outsourcing contracts. It organizes contract data such as duration, costs, and deadlines, while also offering secure storage and simple access to contract documents. Automated notifications for due dates or contract changes further improve responsiveness. Structured contract management is crucial for staying compliant with regulations related to outsourced services.

Risk management

Effective outsourcing control entails detailed risk analysis for both material and simple outsourcing activities. BIC GRC facilitates this by smoothly integrating outsourcing management into your ERM system, allowing early detection of potential risks and optimal preparation. By conducting regular risk analyses (annually for material outsourcings & every three years for simple ones), stay constantly informed about your risk landscape and can adjust measures as needed.

Platform integration

Our platform-based software seamlessly integrates all GRC areas, providing you with a comprehensive view of your business processes and risks. This yields significant benefits, especially in outsourcing management: 

  • Real-time tracking of the impact of outsourcing on your risk situation 
  • Rapid response to incidents through strong interconnectedness 
  • Centralized management and monitoring of risks and compliance with external partners 
  • Improved transparency, efficiency, and control over your business activities 

Continuity and recovery planning

Sometimes, unexpected events may lead to bringing previously outsourced tasks back in-house. With BIC GRC's smooth integration of outsourcing management and business continuity planning, you get a complete solution for creating and executing continuity and recovery plans. From identifying key outsourcing processes to implementing emergency measures, BIC GRC ensures your business keeps running smoothly and can adapt to sudden disruptions with ease.

Outsourcing processes
Transparent documentation
Comprehensive risk management
Integrated GRC
Business continuity module

DSV Group Trusts in BIC GRC

For us, it was important to have the possibility to design certain concepts – and in some cases even implement them – on our own. BIC is the perfect software for our needs.

Felix Streibich Information Security Officer, DSV Group

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Outsourcing Management of the Highest Efficiency and Quality

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Ensure transparency

Identify and manage outsourcing risks effortlessly and accurately.

Centralize your data

Benefit from a fully integrated solution with a central outsourcing registry.

inhouse training

Stay informed

Review your risk situation regularly through routine analyses.

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Maintain control

Control and monitor your outsourced processes systematically.

Build trust

Evaluate your service providers' performance to ensure top quality.

Keep improving

Adapt measures and contracts flexibly to evolving conditions.

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Further Resources

Whitepaper
The 5 Game Changers in Risk Management

Traditional approaches to risk management tend to be antiquated and insufficient. Find out how to elevate your performance and master the challenges of today.

Expert information
Business Continuity Management

Find out more about Business Continuity and how a dedicated BCM software can help you prevent and navigate emergencies.

Success Story
DATEV

With the quantitative risk assessment provided by BIC GRC, DATEV precisely determines the company's risk capacity, providing a reliable basis for decision-making.

GRC Management Made Easy

Take your governance, risk, and compliance management to the next level
and see how easy it can be with BIC GRC.

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