Solution
Compliance management
Our cloud-based risk platform is designed to support risk professionals with the management of compliance requirements.
3 challenges
#1. Managing requirements in multiple jurisdictions
Organisations operating internationally face the difficult task of navigating and complying with a myriad of regulatory requirements across different jurisdictions. This complexity is compounded by the frequent changes to laws and regulations, requiring continuous monitoring and adaptation to ensure compliance.
#2. Real-time insight into compliance level and progress
Achieving real-time visibility into an organisation's compliance status across its operations is a significant challenge. This includes understanding how well policies and procedures are being adhered to in practice and identifying areas of non-compliance before they escalate into more serious issues.
#3. Ensuring cross-functional compliance integration
Integrating compliance requirements into the day-to-day operations of different business functions is often challenging. Ensuring that compliance is not just a checkbox exercise but is embedded into the operational processes of HR, finance, IT, and other departments requires strategic alignment and operational flexibility.
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
3 common challenges
and our solutions
#1. Managing requirements in multiple jurisdictions
Organisations operating internationally face the difficult task of navigating and complying with a myriad of regulatory requirements across different jurisdictions. This complexity is compounded by the frequent changes to laws and regulations, requiring continuous monitoring and adaptation to ensure compliance.
#2. Real-time insight into compliance level and progress
Achieving real-time visibility into an organisation's compliance status across its operations is a significant challenge. This includes understanding how well policies and procedures are being adhered to in practice and identifying areas of non-compliance before they escalate into more serious issues.
#3. Ensuring cross-functional compliance integration
Integrating compliance requirements into the day-to-day operations of different business functions is often challenging. Ensuring that compliance is not just a checkbox exercise but is embedded into the operational processes of HR, finance, IT, and other departments requires strategic alignment and operational flexibility.
Our compliance management features
Our multidisciplinary requirement register centralises compliance obligations across various domains, ensuring comprehensive oversight. This unified repository facilitates the aggregation, categorisation, and tracking of compliance requirements, enabling you to maintain a holistic view of your compliance landscape. Streamlined access to all compliance data supports informed decision-making and enhances regulatory adherence.
Tailor your compliance efforts with our feature that links requirements directly to your organisation's structure. This alignment ensures that compliance activities are perfectly integrated with the operational hierarchy, enabling targeted management of obligations at every level of your organisation. It simplifies the assignment of responsibilities and improves the coordination of compliance tasks across departments.
Gain immediate insights into your compliance status and progress with our real-time dashboard. This feature provides a dynamic overview of third-party and internal control assessments, highlighting areas of non-compliance and tracking improvements over time. With this powerful tool, you can monitor the level of compliance across your organisation, identify trends, and make data-driven decisions to enhance your compliance posture.
Improve your compliance and risk management processes with our seamless screening and due diligence capability. Directly from our platform, you can request a screening or comprehensive due diligence report from one of our partners. If you already have a preferred screening or due diligence provider, our platform facilitates effortless connection to their services. This integration is designed to streamline your workflows.
Access a wealth of knowledge through our content hub, which offers best practice content, including compliance frameworks and third-party self-assessment questionnaires, covering all types of risk areas. Curated by our partners, this free-to-use knowledge base is designed to equip you with the necessary toolset to kickstart your risk and compliance initiatives. View our best-practices.
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FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Can 3rdRisk provide case studies or examples of succesful implementations?
Yes, at 3rdRisk we have numerous customer success stories to share. On our website we have a dedicated section with a selection of customer success stories. Please reach out to us if you want to know more. We are eager to connect you directly with one of our esteemed clients, enabling you to gain insights and information from their firsthand experience.
Is it possible to generate compliance reports easily with 3rdRisk?
Certainly. 3rdRisk enables easy generation of detailed compliance reports. These reports can be customised to suit your specific requirements, providing clear insights into your compliance status and areas that require attention.
Are industry standards like ISO frameworks and NIST standards available in 3rdRisk?
Absolutely. Our Content Hub includes a wide range of industry standards, including ISO frameworks and NIST standards. This provides you with ready access to authoritative compliance resources, streamlining your compliance management process.
Can I integrate my own compliance framework into 3rdRisk?
Yes, you can. 3rdRisk allows you to integrate your existing compliance framework into our platform. This flexibility ensures that you can maintain continuity with your current processes while leveraging our advanced compliance management tools. We also have a Content Hub with prefilled best practice frameworks and questionnaires.
Can 3rdRisk be integrated with existing systems and support custom domains?
Yes, our platform offers flexible integration with existing systems and supports custom domains, allowing for a cohesive and branded risk management experience. This feature enables organisations to maintain their brand identity while using our platform.
Can I effectively manage third-party risks with 3rdRisk without a dedicated team?
Yes. By using our third-party risk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the 3rdRisk platform?
No. No training or certification is required to operate the 3rdRisk platform. For organisations that choose to manage their third-party risk management program in-house, our platform acts as an intuitive platform, streamlining processes and making follow-up and monitoring straightforward. Its design ensures that teams can quickly familiarise themselves with its features, reducing the learning curve and allowing for immediate implementation.