Third-Party Risk Management

Companies invest substantial time and financial resources in selecting preferred vendors, only to discover these third parties fail due diligence checks. This frequent scenario highlights a critical deficiency: the absence of rapid and transparent insights that could pre-emptively indicate supplier risk. 

• Reliably assess the resilience of your suppliers with Supplier Risk Indicator^TM.  This unique indicator, scored out of 100, measures multiple risk factors impacting your entire supplier network, including cyber, credit, location, and sustainability risk. 
• Generate real-time due diligence profiles with Entity Insights with Sanctions and Adverse Media Screening. This fully automated solution provides standardized information for over 28 million profiles, globally.

Our advanced predictive analytics are essential for enhancing the vendor selection process. By providing immediate and clear insights into vendor suitability, these tools help companies avoid the costly and time-consuming selection processes that often lead to backtracking and restarting. This not only streamlines operations but also significantly reduces inefficiencies and operational costs.

As companies grapple with expanding third-party portfolios, they face the dual challenge of adhering to growing regulatory standards with diminishing resources. The lack of streamlined workflows and automation makes risk management and oversight burdensome and predominantly manual. Implementing evolving regulatory requirements is also time consuming and requires ongoing investment.

• Streamline third-party and vendor risk management with KY3P®. Informed by global regulations and best practices and supported by a significant and growing community of users from industry-leading firms, this comprehensive suite of solutions provides an automated workflow for the entire lifecycle of a third-party.

Our robust, automated systems can help you achieve regulatory compliance, limit potential financial losses, effectively manage critical tasks, prevent significant compliance issues, and safeguard your financial interests. 

Having easy access to pre-curated supplier data is critical during pre-contract due diligence and ongoing monitoring. Soliciting this data directly from suppliers can be cumbersome, time-consuming, and cause delays in onboarding and slow decision making. 

• Access curated and validated control insights with KY3P Assessment Services. Leveraging a harmonized global methodology, KY3P offers assessment services that provide validated insights derived from onsite and remote assessments, and focus on risk domain controls such as cybersecurity and resiliency. Achieve operational efficiency with advanced tooling and external insights that can help you understand risk exposures and meet regulatory requirements.   

Access readily available, comprehensive data that enhances the speed, efficiency, and effectiveness of risk assessments, prevent compliance and data security breaches, and safeguard against reputational damage and substantial financial losses with timely receipt of validated third-party risk data.

Growing inventories and stricter regulations can make controlling third-party risk challenging, especially with fewer resources. Companies often seek outsourced managed services to cope with these demands but find many lack expertise, leading to difficult choices: hire additional staff, deprioritize essential tasks, or rely on less capable resources to handle compliance activities.

• Free up time and resources to focus on strategic risk management by enlisting KY3P Managed Services. This dedicated team tailor support to your specific risk requirements, comprehensively managing your entire supplier inventory. With the operational details of risk management handled by a third party, your internal teams can focus on more strategic aspects of risk management, such as integrating risk management with corporate strategy.

Safeguard your business from potential vulnerabilities and severe consequences, such as costly data breaches, by choosing our managed service solutions for managing critical compliance tasks, risk assessment and due diligence, onboarding and segmentation, quality assurance, and much more.