React Quickly and Capably to Third-Party Risk
Protecting your organization against vendor risks is a process with three critical elements: identification, monitoring, and mitigation. ComplyScore’s Mitigation Management solution integrates each of those functions within a single tool that allows your organization to make better risk, security, and compliance decisions.
- Identify third-party risks during or after initial onboarding and due diligence, to capture both existing and evolving risks.
- Monitor third-party risks with ComplyScore’s efficient single-pane dashboard, with intuitive reporting that makes workflows more manageable.
- Mitigate third-party risks with an agile platform that supports full transparency, ranked risk scorecards, and rapid response.
Why Add Risk Mitigation Management to Your TPRM Program?
- Your TPRM program is struggling to meet performance benchmarks due to a lack of suitable resources, expertise, and/or tools.
- New or proposed vendor relationships require an enhanced level of risk management.
- A recent vendor data breach, security incident, or information security performance discrepancy indicates more robust TPRM tools are necessary.
- You require enhanced performance for your compliance, reporting, or auditing requirements.
Secure Third-Party Relationships Are Better Relationships
Your ability to meet your organizational mission goals is only as certain as your least stable third-party partner. Mitigation Management from ComplyScore provides you assurance that vendor risks can be identified, monitored, and successfully managed. Keeping your company and customers protected is the gateway to achieving your top outcomes.
What Happens When Mitigation Is Not Managed
Understanding your vendor risk environment is important, however what really matters is what you can do with that information. ComplyScore’s Mitigation Management solution helps you avoid common vendor risk failures:
Lost Operations
Vendor issues that cascade into disrupted operations for your organization can result in lost customers, market share, or market confidence.
Punitive Damages
A vendor data breach or security incident that affects your customers can result in fees, sanctions, and/or costly punitive damages.
Reputational Damages
A third-party failure creates risk that you will suffer diminished status with customers, and reduced ability to compete in your market.
Trusted TPRM Solutions
ComplyScore is a preferred choice for intelligent automation for TPRM program services. Mitigation Management can bring an added layer of security and compliance assurance to your organization.
