Dhaka, July 1 -- There was a time when organisations were defined by what they owned: factories, assets and infrastructure. That is no longer the case. Today, organisations are increasingly defined by the partners they rely on. From procurement and logistics to compliance, travel and marketing, third-party vendors have become deeply integrated into day-to-day operations. As that dependence grows, so does the risk. Many business disruptions no longer originate within organisations; they begin with vendors. Research suggests that organisations now depend on an average of 10 or more third-party vendors, significantly increasing their exposure to operational and financial risks.

In fast-growing economies, particularly across South Asia, vend...