Originally Published: 20 June 2024

This analysis is based on Nimble Global's proprietary research and 30+ years of practical experience across over 90 countries.

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CASE STUDY

FINANCIAL SERVICES

A significant issue arose when a contractor stole a client's laptop. This incident was not uncovered through routine audits but was instead exposed following the client's immediate alert to their Managed Service Provider (MSP). An investigation into the MSP's Vendor Management System (VMS)—responsible for tracking contractors and their onboarding documentation—revealed a critical oversight: the documents uploaded by the supplier, which were expected to include a duly signed Intellectual Property Agreement (IPA) and Non-Disclosure Agreement (NDA), were not signed. This lapse occurred because the MSP relied on the supplier's mere assertion of compliance, marked by a 'tickbox,' without conducting a thorough document verification process. This oversight exposed the client to significant data breach risks and highlighted a severe flaw in the MSP's vendor management and compliance practices.

MSP GOALS

• Restore Client Trust and Security. Implement immediate and long-term process controls to address the current security breach and prevent future incidents, thereby reinforcing the security of client data and information.

• Enhance Compliance and Verification Processes. Develop and enforce more rigorous contractor onboarding and document verification processes within internal teams and the supply chain to meet all legal and compliance standards.

OUR APPROACH

• Provide Expert Consultation and Solutions. Assist the MSP in assessing and strengthening their security and compliance frameworks by offering expert advice and implementing best practices tailored to their needs.

• Empower the MSP through Targeted Training. Provide training on audit best practices, leveraging real-world scenarios and cutting-edge audit methodologies.

OUR RESULTS

• Increased Security and Compliance. Revamped audit protocols and established new compliance detection and management standards, enhancing overall audit efficacy.

• Achieved a More Secure and Compliant Operational Environment. Reduced the risk of data breaches and legal violations, thereby restoring client confidence.

Stay Nimble. Stay Compliant.

About the Author: With extensive experience in workforce compliance and global workforce solutions, David Ballew has consistently driven innovation and operational excellence. As the Founder and CEO of Nimble Global, David combines deep industry expertise with a unique perspective shaped by his neurodiverse AuDHD profile, enabling creative problem-solving and multidimensional insight. A pioneer in MSP models and workforce technologies, he is dedicated to bridging global compliance gaps and helping organisations build resilient, future-ready workforces.

Real People. Real Action. Real Innovation.

Disclaimer: This content is intended for informational purposes only and does not constitute legal, tax, or employment advice. Readers should consult qualified professionals in relevant jurisdictions before acting on the guidance provided. Nimble Global disclaims any liability for actions taken based on this publication.