The primary advantage of creating and maintaining a vendor risk registry is to ensure that an inventory of potential risks is maintained. A vendor risk registry helps organizations keep track of the risks associated with third-party vendors, especially as they may introduce vulnerabilities or non- compliance issues. By maintaining this registry, the organization can continuously monitor and manage vendor-related risks in a structured way, improving its overall security posture.
CASP+ emphasizes the importance of vendor risk management in an organization's broader risk management strategy.