Every third-party organization is looking to increase its client base one way or another, but how? Growth can pose as a challenging task, but with the right tools, it may not be as daunting as it seems. One of the best ways to increase your client base as a third-party service provider (TSP) is by building trust with your customers and prospects.
A third-party certification, validation, and/or examination provides customers with a window into the interworking of TSPs, including operations and compliance, and is one of the best vehicles for establishing and maintaining trust. By obtaining a SOC report or HITRUST certification, TSPs can report on controls in an efficient and effective manner. FORVIS can help! Perform a HITRUST certification or SOC examination Readiness Assessment with FORVIS as your advisor to help identify what reporting framework or frameworks you want to use, who the intended users are, what they care about, what existing controls you have, what controls you need, and where you can improve. Performing a Readiness Assessment can help you gain the confidence to pursue the appropriate level of reporting without unwanted surprises.
The value proposition associated with reporting on controls is clear: By reducing internal team member response time to customer and prospect requests and concerns, TSPs can focus on internal operations and growth.
Why Is Building Trust Such a Valuable Tool in Increasing Your Client Base?
“Trust provides the foundation on which your service or solution can thrive.” – Jennifer Jones
“With the increased focus on vendor management, due diligence, and third-party risk, companies around the world are forcing their suppliers and vendors to comply with stricter requirements. If you want to be able to continue to grow as a TSP, you must be prepared to demonstrate your commitment as a TSP to security, availability, processing integrity, confidentiality, and/or privacy as applicable to your clients and prospects.” – Ryan Boggs