Best Third Party & Supplier Risk Management Software
Third-party and supplier risk management software gathers and manages vendor risk data to protect companies from issues across various risks. These risks may include financial, legal, strategic, reputational, ethical, information security, operational, cybersecurity, environmental, and geopolitical risks.
This type of software assesses, monitors, and mitigates risks that could negatively impact company-supplier relationships. Compliance and risk officers typically use third-party and supplier risk management software. Additionally, companies benefit from this software by minimizing risks from unreliable suppliers.
It also helps reduce the chances of reputational damage associated with high-risk vendors, lessens the likelihood of business disruptions, and lowers the potential for negative financial consequences. Third-party and supplier risk management software is usually implemented as part of a broader governance, risk, and compliance initiative.
A third-party and supplier risk management tool is different from vendor security and privacy assessment software, as the latter focuses specifically on cybersecurity and privacy third-party risks but does not address other risk domains, such as financial or environmental risks.
Third-party and supplier risk management also differs from contractor risk management, which assesses the unique risks associated with hiring an individual or organization to complete a specific project rather than a vendor engaged in providing goods or services as part of their normal business operations. It also stands apart from various types of supplier or supply chain management software because those typically don’t have robust vendor risk analysis capabilities.
To qualify for inclusion in the Third Party and Supplier Risk Management category, a product must:
Featured Third Party & Supplier Risk Management Software At A Glance
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UpGuard provides cybersecurity risk management software (offered as SaaS) that helps organizations across the globe prevent data breaches by continuously monitoring their third-party vendors and their
8,734 Twitter followers
Vanta is the leading Agentic Trust Platform helping 15k+ companies—like Atlassian, Duolingo, Golden State Warriors, and Icelandair—start and scale their security programs and build trust with buyers.
Vanta is a compliance management tool that automates the process of preparing for audits like SOC 2, ISO 27001, HIPAA, and GDPR by integrating with user tools to collect evidence automatically. Reviewers appreciate Vanta's ease of use, its ability to integrate with various tools, and its automation of evidence collection, which saves significant time and effort. Users mentioned issues with Vanta's pricing, particularly for smaller companies, occasional difficulties with integrations, and a desire for more robust reporting and vendor risk management features.
4,358 Twitter followers
Descartes Denied Party Screening (also known as Descartes Visual Compliance and Descartes MK Data) provides a range of best-in-class compliance software solutions covering third-party risk management
3,215 Twitter followers
Secureframe empowers businesses to build trust with customers by simplifying information security and compliance through AI and automation. Thousands of organizations such as AngelList, Nasdaq, Coda,
2,225 Twitter followers
OpenPages is an AI-powered, easy-to-use, and highly scalable GRC management solution that runs on any cloud and centralizes siloed risk management functions into a single environment. OpenPages lays
708,744 Twitter followers
Creditsafe is a comprehensive data intelligence solution designed to help organizations manage credit risk, compliance, and data hygiene with confidence. By delivering global coverage breadth across m
SAP Ariba automates management of the purchasing lifecycle for indirect goods and services, to streamline workflows, expedite approvals, and eradicate errors and exceptions. By increasing procurement
SAP Ariba is a procurement and supplier management platform that streamlines processes such as sourcing, contract management, and supplier collaboration. Reviewers appreciate SAP Ariba's ability to centralize and automate procurement processes, improve visibility and control over spend, and enhance supplier collaboration. Reviewers mentioned that SAP Ariba's user interface can be complex and unintuitive, with a steep learning curve for new users and occasional slow performance.
297,265 Twitter followers
D&B Risk Analytics - Supplier Intelligence provides supply and compliance teams with a revolutionary solution that leverages AI-powered data to achieve a new level of visibility for managing risks
22,549 Twitter followers
Bitsight is the global leader in cyber risk intelligence, helping teams make informed risk decisions with the industry’s most extensive external security data and analytics. With 3,500 customers and 6
4,495 Twitter followers
Ncontracts is a leading provider of SaaS-based risk management and compliance solutions for financial services companies. Our GRC solutions help more than 5,000 banks, credit unions, mortgage compa
Ncontracts is a risk management and compliance tool that provides data validation, error detection, and vendor risk management, along with features for document collection, compliance management, and vendor management. Reviewers appreciate the peace of mind Ncontracts provides by ensuring legal compliance, its ability to store contracts and risk ratings in one place, and its unique managed service where a team of experts handles document collection. Users mentioned that the user experience could be improved as there are too many clicks for simple tasks, the user interface feels outdated, and the setup and implementation process can be difficult and time-consuming.
1,803 Twitter followers
Ethixbase360 is a comprehensive third-party risk management platform designed to help organizations achieve transparency across their value chains. This solution assists companies in identifying, mana
1,313 Twitter followers
EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-ba
5,272 Twitter followers
ProcessUnity is THE Third-Party Risk Management (TPRM) company. Our software platforms and data services protect customers from cybersecurity threats, breaches, and outages that originate from their e
749 Twitter followers
Optro (Formerly AuditBoard) is a GRC software solution that helps enterprises manage audit, risk, and compliance workflows through an agentic system of action. By using GRC-trained AI, centralizing di
2,986 Twitter followers
osapiens develops cloud-based software solutions that empower companies to drive sustainable growth across their entire value chain. With powerful data integration and real-time analytics, osapiens su
76 Twitter followers
