Improve the accuracy and speed of risk identification and mitigation. Our third-party management software centralizes and manages activities across your partner inventory. This empowers your organization to develop more trusted relationships with third parties while addressing potential risks, monitoring performance, and ensuring compliance with legal and regulatory standards.
Enhance third-party risk visibility
In a world where third parties are integral to daily business, increasing risk visibility across the extended enterprise becomes essential. Our solution takes a data-centric and risk-based approach to third-party management, making your partner ecosystem more resilient, secure, and scalable.
Surface and mitigate risks for effective oversight
Improve transparency of operations
Deliver faster time-to-value for the business
Keep up with regulatory changes
Streamline your third-party management lifecycle
Align third-party management workstreams
Increase consistency and efficiency by aligning teams to support shared business objectives. Our third-party risk management solution consolidates and aligns data and inventories across critical risk management workflows to position your third-party management program as a strategic partner to facilitate business growth.
- Ensure decisions are made based on a comprehensive view of the risk environment
- Facilitate easier collaboration and integrate inputs from IT, InfoSec, Privacy, Procurement, Ethics, and Legal teams
- Make relevant risk data accessible across teams and leadership to better inform strategic decision-making
Scale resources and optimize the third-party management lifecycle
Tasks like inventory management, questionnaire evaluation, and risk identification require significant analysis, decision-making, and resource allocation. Decrease time spent on day-to-day processes by leveraging external risk data and intelligent assessments to automate third-party tiering and guide workflow severity and evaluation depth.
- Access risk ratings and critical information on over 125k third parties to gain immediate insights into your third parties’ risk posture
- Integrate ethics and compliance screening data from Dow Jones through our Third-Party Due Diligence solution
- Generate tailored assessment workflows and questionnaires that meet the exact needs of each third-party engagement
Embrace continuous monitoring for faster risk response
Risk assessments and questionnaires are essential to understanding the threats that third parties pose to your organization. But point-in-time assessments often miss the dynamic nature of threats and vulnerabilities posed by your third parties. Real-time risk monitoring allows you to track shifts in third-party relationships and react quickly to changes in risk profiles.
- Actively monitor third parties across critical risk domains and compliance databases
- Automate response actions as new risks arise by creating triggers to notify stakeholders, flag risks, and kick off dynamic reassessments
- Track and respond to critical events across the third-party lifecycle (renewal, changes in scope, or handling of mergers and acquisitions)
Learn more about how to enhance risk visibility across your third-party lifecycle
Explore our resources below, or request a demo, to learn more about how we can support your third-party risk program.
“Implementing OneTrust has accelerated our team's efficiency, cutting down our process time by 80% and reducing vendor onboarding to an average of 17 days.”
Marco Preissinger, Senior Manager Information Security, PUMA SE
“As organizations expand their digital footprint, doors to new risks open, obscuring the visibility leaders need to effectively manage risk across the supply chain.”
Third-Party risk management and due diligence: What's the difference and why does it matter?
FAQ
As your third-party network grows and regulations become more complex, it's critical to automate onboarding processes. Our dynamic workflows empower procurement and operations teams to make informed decisions promptly, involving the appropriate stakeholders. Intelligent assessments tailor and adjust questionnaires based on responses, asking only relevant questions to third parties. Combined with automatic risk flagging, this drastically reduces onboarding time and effort.
Business disruption due to unexpected third-party incidents, like data breaches, can cause reputational risk and negative impacts to your bottom line. Our third-party management software allows you to build “if this then that” workflow triggers to respond to new risks as they arise. Real-time monitoring, reporting, and response automation workflows empower you to take decisive, pre-planned action when disruptive events occur. Ultimately, this creates a more efficient vendor risk management process and supports business resilience.
The regulatory landscape is constantly evolving. While we encourage our customers to view their TPRM program as a strategic business asset rather than just a compliance obligation, we acknowledge the significance of industry and regulatory frameworks. Our third-party risk management software is designed to help you keep up with the latest changes and adjust your program accordingly with the help of out-of-the-box templates. A few common considerations include –
- GDPR
- ISO 27001
- NIST Cybersecurity Framework
- Shared Assessments Standardized Information Gathering (SIG) Questionnaire
- PCI DSS
Ready to get started?
Request a free demo today to see how OneTrust can guide your trust transformation journey.
