3rdRisk

3rdRisk is a third-party risk management platform offered by 3rdRisk Solutions B.V. According to the vendor, this platform aims to serve as a one-stop shop for managing risk and compliance activities for organizations of all sizes. It is designed to cater to various professionals and industries, including risk professionals, compliance officers, supply chain managers, procurement professionals, and vendor managers.

Key Features

One-stop shop: According to the vendor, the platform allows users to manage all risk and compliance activities in one place, ensuring compliance with strict regulatory requirements and effectively managing supplier risk.

Ready-to-use configuration: The vendor claims that the platform offers a best-practice configuration to kick-start and optimize activities. Additionally, users can easily customize the platform to meet their specific needs.

Collaborate: The platform enables users to work closely with internal disciplines and third-parties in a secure environment. Users can share documents, questionnaires, and collaborate on requirements, aiming to improve teamwork and collaboration on projects.

Integrate & automate: The platform allows users to integrate different data feeds and automate processes using ready-to-use API integrations, as claimed by the vendor.

3rdRisk configurator: According to the vendor, users can easily set up and configure their environment. The platform offers a drag-and-drop feature to quickly get started and can be customized to support any organizational structure.

Compliance requirements: The vendor states that the platform helps users search, register, and comply with various internal and external compliance requirements. Users can manage regulations, sustainability certifications, quality standards, and cybersecurity requirements. The platform also offers a requirements hub to define and share requirements with ecosystem partners.

Third-party catalogue: Users can store all relevant information about third-parties and their agreements in one place, allowing for easy access to information and visualization of the ecosystem to identify interdependencies and potential risk areas.

Risk profiles: The platform aims to help users identify critical contracts and assess risk profiles, allowing for efficient allocation of effort based on risk levels.

Due diligence assessments: Users can evaluate risk exposure and compliance adherence within their ecosystem. The platform offers best practices, customizable assessments, and premium questionnaires, according to the vendor.

Audits & Inspections: Users can perform on- or offsite audits and inspections, either independently or with the assistance of auditors or 3rdRisk partners, as claimed by the vendor.