Solution
GDPR
Our third-party risk management, internal control, and compliance management solutions are tailored to help you comply with the General Data Protection Regulation (GDPR) with efficiency and ease.
3 most common challenges and our solutions
Visilibity and monitoring of third parties privacy risks
Organisations nowadays do business with thousands of third parties. These third parties are increasingly involved in the execution of critical business processes. Keeping an overview of the third-party privacy risks is not simple, but essential considering evolving threats and the requirements stated in the General Data Protection Regulation (GDPR). Many organisations struggle to promptly identify, assess, manage and monitor privacy risks introduced by third-party collaborations.
TPRM module
Our collaborative platform keeps a real-time watch over your third-party landscape, ensuring you’re always in the know and meet the third-party privacy related requirements from the GDPR. Should any privacy concern or issue arise with any of your third parties, the platform promptly alerts you, empowering you to take timely and informed actions. Beyond that, smart automation is used to engage and unburden internal stakeholders and third parties with third-party risk management activities. It streamlines the third-party due diligence process by automating tasks like dispatching and analysing self-assessments.
Engaging stakeholders with risk management activities
Effective internal control and risk management are foundational for an organisation’s profitability and success. However, engaging internal teams in these processes can be challenging due to a lack of understanding, inadequate communication, or resistance to change. A user friendly platform that promotes awareness and action is needed to obtain a comprehensive understanding of the internal control environment and timely remediate any issues.
Internal Control module
Our Internal Control module fosters a culture of accountability and awareness by providing an intuitive and collaborative environment where teams can easily perform internal control and risk management activities. It encourages teams to actively participate in the risk management process by leveraging gamification elements and using modern communication channels such as Microsoft Teams and Slack.
Managing the rising compliance workload
In today’s rapidly evolving digital landscape, privacy professionals are confronting an unprecedented challenge: the escalating complexity and volume of compliance tasks. Additionally, in our fast-paced and highly competitive labor market, securing risk professionals can be both challenging and expensive. This is especially true as organisations grapple with challenges across various risk domains, striving to mitigate emerging privacy risks and manage the rising number of compliance requirements.
TPRM as a service
For organisations that choose to manage GDPR compliance in house, our platform acts as an intuitive platform, streamlining third-party due diligence 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. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who have a deep understanding of the GDPR and excel in leveraging our platform’s capabilities to comply with this regulation.
Starting with third-party risk management (1): How to set up your capability?
Starting with third-party risk management (2): How to define your requirements?
Starting with third-party risk management (3): How to create your catalogue?
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.
Does 3rdRisk has pre-defined workflows and questionnaires for GDPR compliance
Absolutely. Our Content Hub includes best practices GDPR and data privacy questionnaires that can be adjusted to meet your specific situation.
Can I effectively manage third-party risks with 3rdRisk without having a dedicated team?
Yes. By using the TPRM module of the 3rdRisk 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 or internal control 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 internal control or 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.
Does 3rdRisk integrate with procurement systems?
Yes, our platform has (API) integrations with the most commonly used procurement system, like SAP ARIBA, Coupa or Oracle.
