Because of a long effort over the years for companies to become better at providing services, they became more dependent on third-party services (technology providers, platform providers, and services companies). As a result, they now need to become more sophisticated in monitoring the risks of services from third parties. This requires that they professionalize how they procure and manage these services and requires a more in-depth understanding of changes in their vendor/providers’ management, financial positioning, and capabilities.
Trends In Rising Prices Affecting Companies Using Third-Party Services
Prices are rising for goods throughout the US economy because of inflation. [...]