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Third Party Risk Management Software

Take a proactive approach to third-party risk management to keep your business, operations, and customer information protected against third-party risks.

third party risk management software
Establish a solid third-party governance framework

Manage third-party risk as a part of your risk and compliance management program with Corporater Third-Party Risk Management software. Verify adequate controls for business continuity management, performance, viability, security, and data protection. Ensure regulatory compliance, information security, and vendor performance arising from organizations’ increased use of, and reliance on, service providers and IT vendors.

Corporater Third-Party Risk Management Software

Corporater Third-Party Risk Management (TPRM) solution is an enterprise-grade digital tool that enables organizations to establish a solid third-party risk management program. It empowers organizations to gain greater visibility into their third-party relationships and reduce threats related to the use of third parties (vendors, suppliers, partners, contractors, business channels, etc.). By taking a proactive approach to third-party risk management, your organization may strengthen its resilience and prevent risks such as reputational and financial damage, which may result from third-party data breaches, operational failures, and non-compliance.

With Corporater, CROs and risk managers may establish a robust third-party governance framework, standardize due diligence processes, and continuously monitor internal and third-party risks across the organization. Identify, assess, mitigate, control, and continuously monitor risk on customized risk and compliance management dashboards. Corporater supports organizations in meeting various compliance standards including ISO best-practices, GDPR, and others.

Corporater Third-Party Risk Management solution can be implemented as a point solution, or as part of the Operational or Enterprise Risk Management solution. Built on Corporater Business Management Platform, the solution can be seamlessly integrated with other Corporater (and third-party solutions) such as internal audit, regulatory compliance, business continuity management, operational resilience, and others, to form a holistic GRC program.

Solution Features

  • Intuitive user interface
  • Risk dashboards
  • Risk register
  • Holistic, integrated governance, management, and assurance of compliance, e.g.: Anti-Money Laundering, BASEL & Solvency, Information Security & Data Privacy
  • Risk framework support (ISO 31000, COSO, ISO 27005)
  • KRIs, KPIs, and other metrics
  • KRI catalog
  • Incident management incl. loss/near-loss events
  • Improvement database
  • Onboarding due diligence
  • Third-party due diligence
  • Data visualization
  • Risk consolidation and aggregation from internal and external data sources
  • Risk identification (manual user input and bulk import) based on taxonomy
  • Risk assessments of internal and external risks (qualitative and quantitative)
  • Risk mitigation
  • Risk analysis templates (for various types of risk)
  • Surveys
  • Collaboration
  • Automated workflows
  • Automated reporting
  • Document management
  • Version control
  • Audit log
  • Alerts and notifications
  • Control activities
  • Customizable branding
  • Access control / permissions
  • SSO

Solution Benefits

Gain a holistic view of your third-party risk program

Create custom risk and compliance dashboards to have a holistic overview of third-party risks. Define and map KRIs, risk thresholds, business activities, risk assessments, and performance metrics. Track risks over time, identify trends, and automate actions for rapid risk mitigation.

Establish a solid third-party governance framework

Provide your organization with shared standards and processes for third-party risk management. Save time and resources and prevent confusion by establishing a clear process for moving from initial due diligence to business continuity. Assign tasks, monitor their progress, and receive a notification when a task is completed.

Establishing a standardized approach to third party risk management will lead to more efficient and effective risk management. It will enable your teams to automate repetitive tasks, prevent duplication of efforts, accelerate internal audit activities, and improve transparency across business units and functions.

Easily monitor, identify, assess, and address third-party risks

Continuously monitor and manage internal and third-party risks across your organization. Create and maintain up-to-date risk register of risks associated with your third-parties. Keep track of cybersecurity risks that third parties may expose your organization to. Analyze and control risks associated with outsourcing to third parties. Conduct third-party risk assessments, take action on identified risks, and continuously monitor and remediate residual risks.

Automate reporting

Generate and distribute audit-ready reports in a variety of popular formats including Word, Excel, PPT, and PDF. Specify report recipients (key stakeholders, senior managers, the board, etc.) and set automated deployment frequency.

third party risk management software
  • SaaS, on premise, or private cloud deployment
  • Industry-leading security for your data
  • Flexible configuration and customization
  • Rapid implementation
  • Ongoing support and innovation

Key Capabilities

Corporater Third-Party Risk Management (TPRM) software comes pre-configured with best practice frameworks, templates, and functionalities needed for an effective third-party risk management.

Risk Dashboards

Create custom risk dashboards to have a complete overview of risks, their potential impact, options for risk mitigation, and more.

Risk Planning

Keep your organization prepared for the unexpected with Corporater risk planning and early risk identification.

Risk Identification

Continuously identify risks in various ways — from forms, data integrations, or user input — and record them in a centralized risk register (risk inventory).

Risk Assessments

Analyze, evaluate, and respond to your risks. Corporater supports quantitative, qualitative, and semi-quantitative risk assessments.

Risk Monitoring

Monitor identified, residual and secondary risks, take a corrective action, and measure effectiveness of your response.

Risk Reports

Generate custom risk reports and submit them through review / approval process. Include visual elements such as graphs and risk heat maps.

Risk Register

Build and maintain a centralized risk register (risk inventory) to have a complete and current overview of risks across your organization.

Incident Management

Establish and automate incident management process to minimize adverse impact on your organization. Monitor, report, and resolve incidents.

Alerts & Notifications

Create custom alerts to notify key stakeholders when a KPI moves above or below a specified threshold, when a goal is reached, or when a new issue arises.

Ready to get started? Request your free demo today.

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All solutions built on Corporater Business Management platform can be seamlessly integrated with one another allowing you to start with one solution and scale up later as your needs evolve. With Corporater, the process of scaling up is fast, easy, and non-disruptive to the end users.

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Why top organizations choose Corporater

Deployment of your choice

Select deployment option that fits your needs: SaaS, on premise, or private cloud.

Powerful Data Integration

Integrate data from various sources to have a full picture of your business.

Flexible Configuration

Have it your way – create a solution that fits your specific business requirements.

Rapid Implementation

Get up and running fast with Corporater customizable off-the-shelf solutions.

Industry-leading Security

Corporater is VL5 Veracode Verified and offers the highest level of security.

World-class Customer Support

We are here for you with premium support and continuous innovation updates.

Contact us to schedule your free demo.
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