The report highlights the increasing importance of detecting and preventing risk from third parties for companies, as reliance on contractors, partners, and suppliers grows. National legislation with international reach is increasing the risk of legal non-compliance and reputational impact. A risk-based due diligence approach is necessary to identify and prevent these risks. Companies in sectors such as construction, infrastructure, energy, and telecoms interact with numerous third parties, including customers, partners, suppliers, and commercial agents. These relationships can critically depend on third parties, and financial issues or overly contractual behavior can lead to delays, additional costs, and reputational damage. A standard map of third parties can be found in the report.
