In this Member Spotlight we hear from new Business member, 3VRM, on the increasing challenge of ensuring cyber security of supply chains and joining ScotlandIS to deepen and extend their network in the country.
Who is 3VRM and what do you do?
3VRM (‘Vendor Risk Management’) is a specialist professional services business focussed on helping organisations to identify and manage risk through their supply chain and Third-Party relationships.
We offer Consulting Support and a range of Managed Services covering all aspects of the third party management lifecycle and vital risk domains including Cyber and Information Security, Resilience, Data Privacy, Regulatory Compliance, Financial Crime and ESG.
We are an expert team with practical experience of designing and operating Third Party Risk Management (TPRM) activities for clients large and small, in a diverse range of industry sectors.
Tell us something unique or interesting about your organisation.
Our team has a unique breadth of practitioner-based experience implementing best practice third party risk management on the ground. Our approach is to work closely with our clients to achieve highly successful results, without compromising on business continuity or objectives.
Our clients operate in all sectors and consistently tell us they enjoy working with us. Also, that they particularly value that our people are pragmatic and have practical experience of designing, implementing and operating third party risk management solutions.
What is your biggest achievement as an organisation?
At 3VRM we are proud that we have helped our clients – ranging from local SME’s, NGOs to global multi-nationals – all with their different TPRM challenges. Whether their goals have been regulatory compliance, improved efficiency, operational resilience or better risk management or all of these, successful delivery for our clients has helped us to grow.
Having been founded in 2016 with a single client in the Financial Services sector, we are now a team of 60 professionals based in the UK and serving clients globally. We have grown to support clients from a diverse range of sectors including manufacturing, retail, pharmaceuticals, energy and the public sector.
What prompted you to become a member of ScotlandIS?
ScotlandIS is at the heart of Scotland’s digital economy and membership base has a wealth of expertise and experience. With a significant and growing proportion of our employees based in Scotland, we are excited by the opportunity to extend and deepen our network here. We are keen to provide our people with opportunities to develop and want to build on our existing links with Universities. We look forward to connecting with other members, so we can help each other to develop and grow.
What do you see as the main challenges for the tech industry in the UK and Scotland?
From a Third Party Risk Management (TPRM) perspective, the challenge of ensuring the cyber security and resilience of supply chains has never been more critical (or more complex). Recent events at Jaguar Land Rover and M&S have reinforced to firms the challenge and importance of cyber security and the risk arising from rapid increases in digitalisation in the manufacturing and retail sectors, including through their supply chains. Whether acting as a ‘buyer’ managing their own supply chain or as a ‘supplier’ responding to due diligence from their (potential) clients, organisations will need to act to to strengthen their TPRM in response.
If you’d like to find out more, get in touch with martin.bowden@3vrm.com or david.beardshaw@3vrm.com or visit 3VRM