Vendor risk assessments do not need to be a massive questionnaire. A focused process can cover the most important privacy and security risks without slowing procurement.
Tier Your Vendors
Classify vendors by the type and volume of data they handle. A payroll provider needs deeper review than a marketing design tool.
Use a Short Questionnaire
Ask about data types, storage locations, subcontractors, and security controls. Keep it concise to get faster responses.
Review the Contract
Check for a DPA, breach notification timelines, and the right to audit or receive security reports.
Ongoing Monitoring
Reassess critical vendors annually and track changes to their policies or ownership.
Document Decisions
Keep records of approvals, risk notes, and remediation actions. This helps with audits and future reviews.
Bottom Line
Start small and scale. A consistent, repeatable process reduces risk and makes vendor onboarding smoother.