Best Third Party & Supplier Risk Management Software

Third party & supplier risk management software gathers and manages vendor risk data to protect companies from issues such as data breaches or noncompliance. This type of software assesses, monitors, and mitigates all risks that may have a negative impact on the relationship between a company and its suppliers. Third party & supplier risk management software is typically used by compliance officers or by managers from departments such as quality management, supply chain, or manufacturing. Compliance officers use third party & supplier risk management software to ensure compliance with internal policies and governmental regulations such as FFIEC, CFPB, or HIPAA. Department managers benefit from using this type of software as it helps reduce the risk of disruption caused by unreliable suppliers.

A third party & supplier risk management tool is usually implemented as part of a broader governance, risk, and compliance initiative, but the software can also be delivered as a standalone product. When provided separately, third party & supplier risk management solutions need to integrate with other software tools such as supply chain suites, quality management software, ERP systems, and governance, risk, and compliance software.

To qualify for inclusion in the Third Party & Supplier Risk Management category, a product must:

  • Include standard workflows and templates to assess and evaluate supplier risk
  • Provide a 360-degree view of suppliers which can be shared internally and externally
  • Ensure compliance with internal policies and regulations for supplier risk
  • Deliver processes and templates for supplier risk control and oversight
  • Offer self-service portals for suppliers to provide information and documents
  • Include standard reports on risk monitoring and risk exposure
  • Monitor vendor performance and any supplier risk changes
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    (14)4.5 out of 5
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    LogicGate enables enterprises to transform disorganized risk and compliance processes into easy to use applications with an intuitive user interface. The platform enables organizations to configure powerful yet pragmatic agile GRC workflows, logic, and rules to reduce their risk exposure and reduce costs associated with managing large compliance programs.

    LexisNexis® Dossier Suite™ is a searchable reporting tool that provides in-depth information on more than 80M companies, 75 million executives and 1,000 industries.

    OneTrust is the largest and most widely used technology platform to operationalize privacy, security and third-party risk management. According The Forrester New Wave™: GDPR and Privacy Management Software, Q4 2018, OneTrust "leads the pack for vision and execution." Additionally, Fast Company named OneTrust as one of 2019's World's Most Innovative Companies.   More than 2,500 customers, both big and small and across 100 countries, use OneTrust to implement their privacy, security and third-par

    Backed by more than 100 years of combined information security expertise, VENDEFENSE was custom built and designed specifically for organizations that use third-party vendors. This vendor risk management tool eases the burden on program managers who are tasked with evaluating and managing vendors.

    LogicManager believes performance is a result of effective risk management. Since 2005, LogicManager's enterprise risk management (ERM) software has empowered organizations to uphold their reputation, anticipate what's ahead, and improve business performance through strong governance. Today, LogicManager’s SaaS software and included advisory service help businesses integrate risk, governance, and compliance activities so they can protect their employees, customers, and shareholders. LogicManag

    Aravo delivers market-leading SaaS solutions for managing enterprise third party risk to help Global 2000 companies protect their brand, build customer trust and elevate business performance.

    Dow Jones Risk & Compliance is a global provider of third party risk management and regulatory compliance solutions. Working with clients across the globe, we have created products and services to help companies evaluate third party risks faster and with more confidence.

    Opus' Hiperos 3PM platform helps manage the risks, compliance and performance - optimizing the value of third party relationships.

    ProcessUnity's cloud-based solutions help organizations of all sizes automate their risk and compliance programs.

    SAI Global Risk & Ethics and Compliance empowers customers to focus on developing an effective integrated risk management solution with a combination of software and learning content. Together, with our expertise, organizations can build and foster a strong risk and compliance culture, integrate risk management business process, and strengthen organizational ethics and employee behavior. SAI Global is a recognized leading provider of integrated risk management solutions, assurance, and prop

    FISCAL's AP Forensics Enterprise Suite is a set of powerful tools that can be used by any finance professional to reduce overpayments, detect fraud and protect an organization's overall spend. The software has been designed specifically for P2P staff to run on a constant monitoring, daily or weekly basis, and works alongside any accounting or ERP system.

    Avetta makes it easy to verify individual employees' qualifications and provide online training for faster induction. Get the greatest return on your outsourcing investment and significantly reduce risk by ensuring only the right people are allowed to perform critical job functions.

    Protect your company and your suppliers with Avetta's insurance verification and monitoring. It features simple document management, automatic alerting, and is easily configured for your specific compliance requirements.

    Avetta's auditing solution provides visibility of how your suppliers are executing important safety procedures, and what they're doing to prevent future incidents. With a more complete risk profile of your suppliers, you can manage risk with confidence and protect your brand.

    Prequalifying suppliers is an important first step to managing supply chain risk. But collecting all the right documentation, verifying the data, and managing the process for a large number of suppliers is both complicated and costly. Avetta does all the heavy lifting. It streamlined your qualification process, saving you time and money.

    Covers all aspects of the risk management process, ranging from initial risk identification, through risk assessment and evaluation to risk mitigation.

    Whether you are an Enterprise or Third-Party, CyberGRX is a force multiplier for your team. Our Global Risk Exchange and Risk Assessments-as-a-service eliminate waste and redundancies, so you can focus on reducing risk.

    The DOCUTRAX service facilitates risk transfer from your business to third-parties, such as vendors and contractors, through professional oversight of certificates of insurance (COIs) and other compliance-related documents.

    DueDil is an online tool that combines comprehensive sources of company information to uncover business opportunities and understand risks.

    HICX helps the world's leading companies extract maximum value from their supplier relationships by turning the complexity of supplier management into a strategic advantage.

    IntegrityNext is a cloud-based platform that covers all major aspects of CSR and sustainability requirements, allowing companies to monitor thousands of suppliers with minimal administration.

    IntraStage allows real-time data capture of performance data from simple components to complex assemblies.

    Know Your Vendor™ solution helps our clients mitigate supply chain risks by providing a consolidated panorama for due diligence on third parties. Using the most recent technologies to monitor your supply chain, it allows to import your vendors and assigns to each of them a questionnaire, which is a critical step for the due diligence. You can follow the progression of the due diligence in real time and access the report and scoring at a click of a button. We provide Vendor Screening, Reputation

    Kodiak Rating is a Supplier Relationship Management platform that provides you with the business intelligence you need to manage risk, optimize supplier performance, increase productivity and create long-lasting supplier relationships

    Meercat Suite is a web-based software solution for firms wishing to implement state-of- the- art supplier auditing and supply chain risk management.

    The MetricStream Third-Party Management App enables a comprehensive process to identify, assess, mitigate, and monitor third-party risks, as well as to manage compliance. The app streamlines third-party information gathering, due diligence, onboarding, real-time monitoring, and risk and control assessments.

    MyComplianceOffice is a powerful software solution that automates compliance program activities and demonstrates an organization’s culture of compliance.

    Ncontracts® is a leading provider of risk and vendor management software and services.

    Prevalent's comprehensive third party risk management (TPRM) platform helps your organization proactively manage third party risk through understanding that "one size does not fit all". Our integrated suite of solutions includes automated assessment software, continuous threat monitoring, and innovative vendor evidence sharing networks.

    ResilienceONE enables vendor risk assessments to protect third-party relationships without the need for additional software. It allows to include outside vendors in recovery timeframe objectives (RTOs) based on potential impact, develops risk-mitigation measures using sophisticated, proprietary risk-modeling algorithms, identify associated processes and assets by risk, potential impact, priority, and relationship.

    riskmethods provides companies with a supply chain risk management solution for proactive monitoring and assessment of risks

    SecureWatch uses a survey-based process in which a series of questions are asked about an asset and a risk score is calculated based on responses. Additional metrics can be combined with the survey score to value the asset, rate likelihood and impact. Recommend action plans, assigns tasks to track and manage remediation based on survey results. See detailed information stating risk factors of each asset you assess and get notified of any non-compliance to your custom requirements and any relevan

    SecurityScorecard helps enterprises gain operational command of their security posture and the security posture of their ecosystems through continuous, non-intrusive monitoring. The company’s approach to security focuses on identifying vulnerabilities from an outside-in perspective, the same way a hacker would. SecurityScorecard’s proprietary SaaS platform offers an unmatched breadth and depth of critical data points including a broad range of risk categories such as Web, Application Security, P

    Identify, score and manage cyber and business risks from the third parties that your organization relies on, connects to, and shares data with.

    Symfact is an international company with an industry leading software solution for document and process management. We focus to provide a single software platform to address the multiple domains of Contract and Compliance Management. Our software helps you deal with Governance, Risk and Compliance, thereby reducing risk and increasing efficiency and productivity.

    ThirdPartyTrust is the vendor risk management platform for companies to connect, assess and share relevant security documentation. Our solution helps information security teams perform vendor risk assessments faster and more accurately via automation and eliminating redundancies in the VRM process. You can collaborate on risk assessment questionnaires, collect SOC reports, and more. Using the ThirdPartyTrust solution you can scale your vendor risk management across all your vendors and simply.

    Through flexible workflows, deep integration to your existing systems, and powerful analytical dashboards, Resolver offers a clear view into every aspect of your third party relationships. The ongoing monitoring of vendor performance reduces the chance of risks going unseen, and ensures the appropriate stakeholders can take action to protect your organization from all types of third party risk. With the increasing threat of third party data breaches, it’s not worth taking the chance. That’s why

    Advanced and flexible platform for aggregating your vendor data, automating your assessments and getting control over your vendor risk management process.

    With VendorXpert, third-party provider details can easily be monitored and tracked in a user-friendly Web-based environment that allows for rapid deployment and management of these crucial relationships. VendorXpert is a vendor management and compliance with integrated workflow reminders.

    WolfPAC's online suite of enterprise risk assessment tools and risk management plans incorporate risks into a single, integrated solution.

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