Third Party Risk Assessment
Gain an integrated, up-to-the-minute perspective of your organisation’s external stakeholders to shield your business from any potential risks
Build a stronger, more secure business with proactive third-party risk management
Third-party risk assessment, also referred to as supplier risk assessment, evaluates the risks linked with third-party vendors and suppliers offering products or services to your organisation.
Through our Third Party Risk Assessment solution, we help you gain an integrated, up-to-the-minute perspective of your vendors, suppliers, and contractors, to shield your business from existing third-party risks. From information gathering and onboarding to real-time monitoring, risk assessment, compliance checks, and risk mitigation, the solution automates the entire process. Employing an integrated approach, your organisation can oversee third-party risks more effectively, fostering trust with external stakeholders.
- Take sourcing and negotiation decisions with confidence by leveraging historical data on third-party risks and performance.
- Improve third-party consolidation, rationalisation, and visibility across various business functions.
- From onboarding to offboarding, effectively handle third-party risks throughout the lifecycle of their engagement with your organisation.
- Mitigate the occurrence of third-party risk incidents and ensure operational continuity through swift and insightful risk evaluations.
Build resilience in your supply chain and ensure long-term success
Continuous assessment
Assess inherent risks continuously by automatically verifying third-party information and detecting potential red flags using globally sourced data on diverse risks.
Enhanced performance management
Monitor performance and proactively identify potential failures by assessing and tracking each third party’s KPI scores.
Efficient intake and request procedure
Automate risk assessments for each third party, allow for risk mitigation prior to onboarding, and authenticate third-party information via seamless third-party intake across departments.
Organised and structured portal
Search, locate and access comprehensive third-party profiles based on various criteria, and submit, modify, or upload pertinent information.
Structured evaluation for enhanced assessment
Conduct systematic, customised audit assessments, online or onsite, of third parties leading to simplified audit process, information gathering reporting, & issue resolution.
Actionable insights with intuitive dashboards and reporting
Manage team more effectively with informed decision making and compare third parties with assessment scores by leveraging powerful dashboards, reporting and analytics tools.
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