Consultative Service
Strengthen Your Supply Chain by Adopting a Proactive Approach to Third-Party Risk Management.
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.
- 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 Managed Approach To
Cyber Security Third-Party Risk Management
360 Degree Assessment and Full Process Management
On-Boarding
- Pre-requisites
- Tiering and signing questionnaires off
- On-boarding vendors
- Establishing baselines
Daily
- Review score changes
- Escalating issues
Weekly
- Chasing vendors
- Highlighting high risk issues
Monthly
- Monitoring general company updated
- Executive monthly reports to customers
Annually
- Resubmit questionnaires & reevaluate suppliers
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.
Frequently Asked Questions
What is third-party risk?
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?
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?
- Organisations can mitigate risks associated with external collaborations by implementing robust third-party risk management programs, safeguarding their reputation and operations.
- Third-party risk management enables businesses to reduce risks when working with external organisations.
- Organisations can use third-party risk management checklists to proactively identify and manage risks associated with external entities.
- Implementing third-party risk management software can help organisations plan for business continuity, reduce dependency on critical functions, and uphold brand reputation.
- Outsourcing third-party risk management activities can save time and resources for organisations, especially when dealing with the dynamic nature of vendor risk.