You can tag your suppliers on Risk Ledger based on three categories:
Criticality
Confidentiality
PII (Personally Identifiable Information)
These tags will determine the risk requirements for a specific supplier and drive the policies that are set over their assessment.
The Supplier Tags can be found on the right hand side of a supplier’s Overview page:
Criticality Tag
The key question to ask is: How big of an impact would a breach of confidentiality or availability of service at a supplier impact your own business?
Critical | High impact and dependency, e.g. business highly dependent on this supplier - will cause service outage, supplier strategically significant to the business, high contract value, high risk to clients and difficult to replace. |
Important | Moderate impact and dependency, e.g. bespoke service but alternatives available, disruption of service would require escalation to executive team but may not cause full service outage, potential risk to clients. |
Minor | Business not dependent on this supplier, e.g. services not bespoke to business, not of strategic significance, low contract value, low risk and easy to replace. |
Confidentiality Tag
The key question to ask is: What is the amount and classification of data shared with supplier?
Highly Confidential | Sharing and processing of significant amount of highly confidential data; breach would likely result in regulatory action or significant negative business impact. |
Confidential | Sharing and processing of confidential data; breach may result in regulatory action or negative business impact. |
Public | No sharing of confidential data; no regulatory consequences and no negative business impact in the event of a breach. |
None | No sharing of data. |
PII (Personally Identifiable Information) Tag
The key question to ask is: Do we share any personal data with this supplier?
Holds PII | Yes, PII is shared. |
No PII | No, PII is not shared. |
💡If you would like support to embed Risk Ledger into your organisation's team structure, contact us at customersuccess@riskledger.com and we can schedule a free session to support you.