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Solution

Service providers

Our cloud-based risk platform is designed to address the specific challenges of the service providers, ensuring effective risk management, regulatory compliance, and operational efficiency.

3 challenges

#1. Data security and privacy

Business services firms face intense scrutiny over data security and privacy compliance. Falling short in these areas can lead to legal issues and loss of client trust.

#2. Managing supplier risks

Ensuring supplier compliance and performance is critical in business services, where vendor issues can impact service continuity, quality and client satisfaction.

#3. Regulatory landscape

Navigating complex regulatory landscapes, especially across different countries, poses a significant challenge, risking non-compliance and operational disruptions.

Key benefits

  • Align with best-practices
  • Streamline processes
  • Improve stakeholder engagement
  • Standardise reporting
  • Improve decision-making
Solve your challenges

3 common challenges
and our solutions

No items connected

Our integrated platform for service providers

Risk management: One integrated risk register for all internal risk disciplines
Risk management: One integrated risk register for all internal risk disciplines

Register internal and external risks. Link risks to a specific third-party, internal control(s) and/or location within your organisation. Follow the ISO 31000 best-practice workflow containing of risk identification, assessment, treatment and monitoring. Use the interactive risk matrix to easily filter different risk disciplines and scores.

Compliance management: Obtain a full overview of all your internal and external compliance requirements
Compliance management: Obtain a full overview of all your internal and external compliance requirements

One integrated register for all your internal & external compliance requirements Use it to manage compliance requirements for security, sustainability, privacy, legal, quality and many others. Define a specific scope & applicability per compliance requirement and link them to one or more assessment questionnaires. Monitor compliance in real-time.

Third-party management: All your third-party information centralised and connected
Third-party management: All your third-party information centralised and connected

One integrated register for all your third parties. Register multiple contracts per third-party. Assign risk profiles to segment your landscape, taking into account multiple risk domains such as cybersecurity, sustainability and compliance. Connect with your procurement system to retrieve and enrich your supplier data.

Assessment management: Third-party self-assessment activities streamlined and automated
Assessment management: Third-party self-assessment activities streamlined and automated

Integrate the different third-party assessment efforts of all your risk and compliance disciplines. Combine questionnaires from different risk disciplines into one third-party assessment. Suppliers log in to a secure supplier portal in which they can collaborate and provide their evidence. Our AI-powered review module makes an initial analysis.

AI-powered analysis of evidence: Let us do the analysis of your suppliers' SOC-2 attestation and ISO certificates
AI-powered analysis of evidence: Let us do the analysis of your suppliers' SOC-2 attestation and ISO certificates

Our AI tool analyses SOC-2 attestation and ISO certificates, identifying the applicability and key areas that require attention. This AI-powered evidence analysis streamlines the review process, ensuring that critical insights are taken from complex compliance documents, and enhancing the accuracy of your third-party due diligence process. And not insignificantly: it reduces the time required to analyse these reports by more than 90%.

Real-time monitoring: Instantly receive alerts about your third-parties and follow-up efficiently and effectively
Real-time monitoring: Instantly receive alerts about your third-parties and follow-up efficiently and effectively

Continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Activate our out-of-the-box integrations with BitSight, SecurityScorecard, Ecovadis, Refinitif and many others to retrieve your third-parties' security, sustainability, financial or compliance risks ratings in one central overview.

Action plan management: Register, track and resolve action plans
Action plan management: Register, track and resolve action plans

Our platform enables you to register, track and manage the action plans of your third-parties, ensuring that any identified risks are effectively managed and resolved. This feature allows for the documentation of action plans, assigning responsibilities, and setting deadlines for risk mitigation activities. Our integration wit Microsoft Teams ensures that your internal teams will be notified mmediately about new action plan and changes through a Teams message.

Advanced reporting: Get AI-powered summeries of assessments and create instant reports
Advanced reporting: Get AI-powered summeries of assessments and create instant reports

Equipped with best-practice reporting templates, our platform incorporates AI to assist in generating comprehensive summaries of the entire assessment process. This advanced reporting capability ensures that you have a clear, actionable understanding of your third-party risk landscape, facilitating informed decision-making and strategic risk management. Our best practice reporting templates include visuals such as bar charts and spider diagrams and can be branded to reflect your corporate identity. Data can be exported to PDF and Excel based on your specific needs.

Some of our
Service providers
clients and partners

Customer stories

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.

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.

Does the TPRM module allow for customisation of email templates?

Absolutely. We understand the importance of consistent communication, so our module supports the customisation of email templates. This allows organisations to maintain their tone and style in all communications related to third-party risk management.

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.

Still have a question?

Our experts are always here to help you out.