Vendor risk management
Third-party vendors.
First-rate risk management.
Third-party vendor relationships have become increasingly complex, driven by mounting pressure from stakeholders and regulators. Our vendor risk management solution empowers you to effectively manage and optimize these relationships.
Know your vendors.
Ensure 360-degree awareness of your vendor relationships to pinpoint risks.
- Identify weaknesses in doing business with critical third party vendors
- Visualise fourth party concentration to identify risks
- Prioritise and manage risk remediation
- Maintain accurate documentation of vendor assessments, issues, and communications
- Directly link vendor management to your operational resilience and business continuity planning
- Streamline real-time data sharing by relationship owners and vendors
Assess and monitor.
Use vendor-sourced data and integrated security ratings intelligence to establish aggregated risk ratings and monitor emerging issues.
- Rate vendors across all risks – financial, policy, security and operational
- Stay ahead of future problems through automated vendor security and regulatory questionnaire engine
- Challenge or validate vendor claims with external cybersecurity ratings data
- Schedule internal reviews of performance, impact and status, in order to monitor and assess vendor contract service levels on an ongoing basis
Act and communicate.
Ensure rapid response times and seamless communications through user-centric interfaces, powerful dashboards and reports that keep you aware of developments and issues as soon as they arise.
- Engage staff through role-based dashboards
- Provide holistic insights through connected data
- Optimise productivity with workflow alerts and reminders
- Manage reporting with consolidated information and powerful visual reports
Ensure compliance with cybersecurity and regulatory standards.
Comply with current and expected regulatory requirements in place in your industry, including ESG and modern slavery legislation.
- CISC – Critical infrastructure risk management program rules
- APRA – CPS 234 (Information Security), CPS 231 (Outsourcing), CPS 230 (Operational risk management)
- ASIC – Cyber resilience good practices
