Third-Party Risk Management

Strengthen Your Supply Chain by Adopting a Proactive Approach to Third-Party Risk Management.

Say Goodbye to Manual Hassles: Simplified Risk Reduction at Your Fingertips

Accelerate your third-party assessments and say goodbye to tedious manual questionnaires, with a robust defence against potential threats.

Highlights

Scan to understand point in time external posture.

Build a complete picture of all your direct suppliers and uncover their partner relationships to understand the extended attack surface.

A non-intrusive evaluation and risk assessment of how third parties are connected with your infrastructure.

Receive actionable insights allowing proactive remediation of risks.

Continuously scan for changes and new threats in your suppliers’ attack surface.

Our Service

Continuous 360 Evaluation

  • Continuous Attack surface assignment.
  • Unlimited Smart Questionnaires.
  • 360 Degree Risk ratings considering inherent risk, questionnaires and external assessment.

Continuous Posture Evaluation

  • Continuous Attack surface assignment.
  • Real-time alert notifications.

Bi-Annual 360 Evaluation

  • Bi-Annual External Attack Surface Assessment.
  • Unlimited Smart Questionnaire.
  • 360 Degree Risk ratings considering inherent risk, questionnaires and external assessments.

Bi-Annual Posture Evaluation

  • Bi-Annual External Attack Surface Assessment.

 

 

Secure Your Supply Chain Today!

Don’t let vulnerabilities compromise your business. Take charge of your supply chain security with our proven solution. Join industry leaders who trust us for a 99.4% accuracy in risk rating. Optimise efficiency, enhance compliance and fortify your business against emerging threats.

Our Approach

360 Degree Assessment and Full Process Management

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On-Boarding

  • Pre-requisites
  • Tiering and signing questionnaires off
  • On-boarding vendors
  • Establishing baselines
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Daily

  • Review score changes
  • Escalating issues
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Weekly

  • Chasing vendors
  • Highlighting high risk issues
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Monthly

  • Monitoring general company updated
  • Executive monthly reports to customers
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Annually

  • Resubmit questionnaires & reevaluate suppliers

Third-Party Security Risk is on the rise!

The average company shares data with 583 third parties*

According to the Ponemon Institute

60%
Faster

Deliver a 60% faster rate for third-party assessments.

9 Day Timeline

On-board new vendors and suppliers in as little as 9 days.

99.4% Accuracy

We provide your business with highly precise risk ratings.

Three key elements to help you thoroughly assess third-party risk.

1

Analyse and score your suppliers’ public-facing digital assets for vulnerabilities.

2

Dynamic questionnaires are an interactive process for gathering context-specific data about security controls and practices.

3

In order to manage business risks, third parties are tiered according to the material risks of the business relationship. The process is designed to be scalable.

 

These three factors provide an overall residual risk rating, supported by actionable insights and reporting.

But it doesn’t end with a one-time assessment.

The “All-in-one solution” automates the entire residual risk to the remediation process and simplifies supplier communication in a fully auditable platform.

Frequently Asked Questions

What is third-party risk?

Third-party risk refers to potential threats and vulnerabilities that an organisation may face due to its interactions with external entities such as suppliers, distributors, intermediaries, logistics providers and customers. These risks can be related to cybersecurity, compliance and operational disruptions. 

To safeguard their reputation, revenue, and overall business operations, organisations must manage third-party risk. This involves assessing and mitigating potential risks associated with external entities to ensure the security and reliability of the entire business ecosystem.

Why is Third-Party Risk Management Important?

Effective management of risks posed by third-party vendors is crucial for several reasons:

1. Supply Chain Resilience: Conducting third-party risk assessments helps protect organizations from supply chain attacks, thereby ensuring the resilience of their operations.

2. Reputational Protection: Assessing risks inherent in third-party vendor relationships helps prevent reputational damage that may result from security breaches or non-compliance.

3. Regulatory Compliance: Implementing third-party risk management programs helps ensure compliance with laws, regulations, and industry standards, thereby avoiding legal repercussions and monetary penalties.

4. Integrated Growth: As businesses increasingly collaborate with third parties, integrated third-party risk management becomes essential for sustained growth.

5. Risk Identification: Utilising third-party risk management checklists helps organisations identify and manage a comprehensive list of risks associated with external entities.

6. Industry-Agnostic Relevance: Managing third-party risks is critical to overall business success, regardless of industry or company size.

Who Benefits from Third-Party Risk Management Services?

Our third-party risk management service offers numerous benefits to stakeholders, resulting in multiple advantages.

  1. Organisations can mitigate risks associated with external collaborations by implementing robust third-party risk management programs, safeguarding their reputation and operations.
  2. Third-party risk management enables businesses to reduce risks when working with external organisations.
  3. Organisations can use third-party risk management checklists to proactively identify and manage risks associated with external entities.
  4. Implementing third-party risk management software can help organisations plan for business continuity, reduce dependency on critical functions, and uphold brand reputation.
  5. Outsourcing third-party risk management activities can save time and resources for organisations, especially when dealing with the dynamic nature of vendor risk.

Contact our specialist team today.

Get in touch to discuss tailored solutions for your cyber security and data protection requirements.

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