Solution
Managed TPRM service
Are you looking to maintain control over your third-party risks without the burden of managing them directly? Our solution partners with a range of experts who leverage our platform to comprehensively manage these risks on your behalf. Just as effective, yet more efficient.
3 challenges
#1. Resource and expertise constraints
Organisations frequently find themselves unable to internally manage third-party risk due to limited resources and a lack of specialised expertise. Managing the complexities of third-party relationships requires dedicated tools, systems, and skilled professionals—assets that many organisations cannot afford or sustain in-house.
#2. Talent acquisition and retention hurdles
The competitive landscape for risk management professionals, exacerbated by a widespread talent war, makes it exceptionally challenging for organisations to attract and retain skilled risk experts. The specialised nature of third-party risk management, combined with a general scarcity of professionals in the field, means that organisations struggle to build in-house teams capable of addressing these needs comprehensively.
#3. Rising compliance demands
s regulatory frameworks become more intricate and enforcement tighter, organisations face an ever-increasing volume of compliance obligations. This uptick places a significant strain on existing teams, who must keep pace with the demands of monitoring compliance, not just internally but across all third-party engagements. The growing workload associated with maintaining compliance intensifies the need for specialised support
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
3 common challenges
and our solutions
#1. Resource and expertise constraints
Organisations frequently find themselves unable to internally manage third-party risk due to limited resources and a lack of specialised expertise. Managing the complexities of third-party relationships requires dedicated tools, systems, and skilled professionals—assets that many organisations cannot afford or sustain in-house.
#2. Talent acquisition and retention hurdles
The competitive landscape for risk management professionals, exacerbated by a widespread talent war, makes it exceptionally challenging for organisations to attract and retain skilled risk experts. The specialised nature of third-party risk management, combined with a general scarcity of professionals in the field, means that organisations struggle to build in-house teams capable of addressing these needs comprehensively.
#3. Rising compliance demands
s regulatory frameworks become more intricate and enforcement tighter, organisations face an ever-increasing volume of compliance obligations. This uptick places a significant strain on existing teams, who must keep pace with the demands of monitoring compliance, not just internally but across all third-party engagements. The growing workload associated with maintaining compliance intensifies the need for specialised support
Our managed service solution
For organisations with limited time or resources for third-party risk management, we have formed partnerships with esteemed experts in the field. These partners can fully manage the entire third-party risk management process for you, encompassing risk profiling, due diligence, and real-time monitoring, by using our fit-for-purpose platform. Schedule a conversation.
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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.