Third-Party Risk Management Application

Third-Party Risk Management

Efficiently assess and mitigate third-party risk in one secure, centralized platform

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Unless you’re already following a standard framework like ISO 27001 or SIG Lite, starting your first third-party risk management program — or maturing your existing processes — isn’t easy. Risk Cloud’s Third-Party Risk Management Application comes equipped with a purpose-built questionnaire to help you holistically and efficiently assess and mitigate third-party risk. Easily customize the questionnaire by adding additional questions from the Third-Party Risk Management Question Bank, or tailor questions as needed to meet your organization’s needs. As a Risk Cloud user, you’ll also benefit from the automation, reporting, and data-linking capabilities that come with every Application inside the platform.

How It Works

Risk Cloud’s Third-Party Risk Management Application assists organizations in identifying and mitigating third-party risks across multiple domains. Save time and automate your third-party risk management program by automatically sending out questionnaires and due date notifications to vendors. All third-party assessments and related information can be stored on Risk Cloud in a centralized location, helping you stay organized while giving other business units better visibility into your organization’s most critical vendor risks.

The Application includes a 37-question questionnaire built by LogicGate GRC experts. With this Application you can: 

  • Use the purpose-built questionnaire as is
  • Supplement the questionnaire with questions from Risk Cloud’s Third-Party Risk Management Question Bank
  • Replace the questionnaire with a custom questionnaire aligned to your organization’s needs and maturity

Why You Need It

  1. Actionable reporting: Assess and mitigate potential third-party risks by gathering and analyzing key information about vendors and suppliers
  2. Customization: Easily customize questionnaires and assessments to quickly replicate — and later, mature — your organization’s third-party risk management program
  3. Automation: Send questionnaires and receive notifications on due dates automatically
  4. Centralized documentation: Track and store vendor assessments and information in one location for easy access
  5. Effortless collaboration: Simultaneously send and track customized questionnaires to multiple external users
  6. Secure collaboration: Protect sensitive data and better control who can access records with one-time passcodes for external users

Learn more about Risk Cloud's Third-Party Risk Management Application

Publisher: LogicGate

Date Added: 08/19/2022

Type: Applications


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