Regular vendor audits are a critical component of effective third-party risk management, ensuring that the relationships and dependencies on third parties are aligned with the organization’s strategic goals, compliance standards, and operational requirements. For businesses relying on a network of vendors, these audits are not just a regulatory requirement but a strategic necessity.

AuditPlus, provides a modern approach to auditing that aligns with the needs of fast-paced, regulation-heavy industries, delivering cost-effective, scalable, and insightful auditing solutions. The benefits include: 1) Specialised expertise and audit experience 2) Unbiased and real time insights 3) Easy to scale and improve 4) Cost efficient and flexible 5) Improved risk management and enhances compliance

While quantifying the exact cost savings from AaaS can be challenging without specific organizational data, businesses often report reductions in audit-related expenses of anywhere from 20% to 50% after switching to an AaaS model. The return on investment also includes qualitative benefits such as improved compliance, better risk management, and enhanced decision-making capabilities, all of which contribute to the overall value proposition of AaaS beyond direct cost savings.