Third-Party and Vendor Risk Management Software

Third-party and vendor risk management is a critical issue for all companies due to regulations and cyber threats. Every new, third-party relationship introduces business risk - regulatory, financial, security or reputational. This leaves many companies managing this risk with manual, highly inefficient processes can create its own risks. Other companies have an automated process but are bogged down with inflexible, legacy GRC systems. What's needed is a smart, efficient and comprehensive platform that automates the full lifecycle of risk management processes and frees up employees to focus on analytics, insights and true management of vendor risk.

To meet the demand for a comprehensive vendor risk management platform, CENTRL offers Vendor360 that provides end-to-end risk management for all stages of the vendor lifecycle. It includes intuitive workflows to automate third-party information gathering, streamline evaluations and issues management, and simplify collaboration with third parties. To facilitate this collaboration and content sharing, there is a single repository of all vendor documents, assessments, issues and activities. The CENTRL platform also provides deep analytics and reporting to help companies drive strategic business decisions. With all of Vendor360's intelligence, it's still easy to configure and you can get started quickly without the need for long implementation cycles.

Comprehensive platform for monitoring, assessing, identifying and mitigating risks with CENTRL's Vendor360

  • Single directory with configurable attributes to categorize vendor by type, risk, criticality, etc.
  • Assessments for all stages of the vendor life cycle: from initial assessments to ongoing monitoring.
  • View of vendor risks inherent at all stages and for all services that the vendor offers.

Robust workflows to manage the risk assessment and evaluation process

  • Ready-to-use workflows for different types of assessments and audits: internal, onsite audits and self-assessments.
  • Ability to collaborate on questionnaires with other subject matter experts in the company.
  • Assignment flows to designate evaluation of vendor responses to different users within the organization.
  • Auto-scoring of vendor responses and full grading module.

Manage issues and track remediation

  • Identify and create issues at question level.
  • Capture all important details about an issue: severity, recommendation, status, etc.
  • Collaborate with third parties and request updates from partners on issues.

Rich library of content

  • Standard industry-specific content like SIG questionnaires included.
  • Ability to create or upload custom questionnaire templates.

Advanced analytics and AI for better decision-making

  • Deep search to quickly and easily find the relevant items.
  • Dashboards and reports to monitor vendor risk and manage status updates.
  • Cross-vendor comparisons across multiple dimensions.
  • Drill down from aggregate to granular details.

To learn more about Vendor360 or get a personalized demonstration of CENTRL's vendor management solution.