Third Party Risk Management Software

About

Third Party Risk Management software, or Vendor Risk Management software, provides organizations the ability to assess and manage the additional risk that is inherited when working with third party vendors. This software will help you rank and quantify the level of risk during the procurement process, as well as provide ongoing monitoring and management of existing third party relationships and contracts. Companies will want to leverage this software during all phases of the vendor relationship from onboarding to offboarding to ensure regulatory and internal compliance is always being upheld.

Common Features

  • Vendor Risk Assessments
  • Risk Scoring
  • Risk Monitoring
  • Reporting and Dashboards
  • Self Service Portal
  • Compliance Monitoring
  • GRC Integration
  • Hierarchy Management
  • Contract Management
  • Vendor Onboarding
  • Collaboration
  • Alerts/Notifications
  • Process Library
  • Flexible Workflow Development
  • Mapping
  • Data & Process Visualization
  • Quantitative Analysis and Assessment
  • Remediation management
  • Correlated Insights
  • Third Party Inventory
  • Business Impact Score

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