Detection and prevention of risk from third parties
Source: UK Construction

Companies in many sectors – particularly construction, infrastructure operation, energy and telecoms – interact with a large number of third parties, including their customers, partners, suppliers and commercial agents. A company may have an economic relationship with thousands of third parties each year and potential relationships with more than three times those selected in the same period. In some sectors – particularly construction – companies can critically depend on third parties. It is not unusual for over 90% of any given contract value to be passed on to these third parties. In this article, Stephen Watson and Javier Serra from Arthur D. Little, discuss the types of risk and potential impact that these third parties can bring.