Business case
The business case for smart technology.
There are many good reasons why managing third-party risks makes sense for organisations. Here is a look at some facts that show why using our technology for third-party risk management is a smart choice for your organisation.
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Our cloud-based risk platform is cost-effective by limiting your administrative burden while increasing the satisfaction of internal stakeholders and third-parties.
Automate menial work
Transform your approach to third-party risk management with our platform's automation capabilities. By automating repetitive, time-consuming tasks, your team can focus on (third-party) risk work that really matters. Our solutions streamline workflows, ensuring accuracy and efficiency in data processing and analysis, freeing up valuable resources and significantl as well as the risk of human error.
Gain insight and control
Empower your organisation with comprehensive insights and unprecedented control over your third-party relationships. Our platform provides real-time visibility into your entire third-party ecosystem, enabling you to identify, assess, and mitigate risks proactively. With advanced analytics and reporting tools, you can make informed decisions, anticipate potential disruptions, and ensure compliance with industry regulations.
Reduce third-party burden
By simplifying the compliance and due diligence processes, we help you reduce the administrative burden on your third parties. Our platform accelerates the due diligence process for your suppliers and enables them to work on the same assessment with multiple colleagues from different teams. Intelligent, multilingual workflows and video explainers seamlessly guide your suppliers through each step of the process.
Your return on investment
Thanks to automation, AI and smart workflows, 3rdRisk users save an average of 140 hours per 10 third-party assessments compared to traditional spreadsheet approaches. This quickly translates to a savings of 7 FTEs when more than 1000 assessments are sent out.
Below are the figures per third-party assessment:
Design & Configure assessments
Response rate
Response performance
Review & assess assessment
Eliminate work, reduce cost
ROI calculator
Our platform significantly reduces the time you spend on tasks that would normally be time-consuming, such as chasing people, scheduling tasks, sending out assessments, and reviewing the results. Especially compared to the traditional spreadsheet approach or when using rigid GRC-systems. And to see just how much time you will save by using our software, you can use the calculator we have provided. It is a simple way to see the big difference our platform can make for you.
Your situation
Provide the number of third parties and the number of assessments per third-party you want to send annually.
Results
Annual hours saved compared to a spreadsheet approach or when using rigid GRC-systems.
Let us help you
Do you need help building your business case? We have put together answers to some of the most common questions you might have. You will find them below to help you get all the information you need.