Effective third-party risk management for retail
For retailers, supply chain disruptions create significant risks that directly endanger smooth operations. Use 3rdRisk to ensure effective risk management, regulatory compliance, and operational efficiency.
Reduce financial, operational, and reputational risks from vendors
Stay resilient, protect your brand reputation, meet compliance requirements, and optimise operational efficiency. Get a grip on your third-party retail risks with 3rdRisk, today.
Maintain supply chain resilience
Closely monitor and evaluate suppliers and vendors by proactively addressing issues such as delays, quality problems, or interruptions in the supply chain.
Protect your brand's reputation
Lower the risk of incidents such as product recalls or safety violations by making sure that suppliers and vendors meet quality and reliability standards.
Meet compliance requirements
Effective third-party risk management ensures compliance with safety, data protection, and sourcing regulations, letting you reduce legal and financial risks.
Optimise operational efficiency
Avoid costly disruptions and minimise operational downtime by proactively managing third-party risks. With 3rdRisk, you’re cost-effective.
These retailers are in control of their third-party risks
Involve stakeholders across the supply chain in executing and testing controls, making third-party risk management a collaborative effort.
Internal control simplified and automated
Involve people from all levels in risk management with practical and accessible internal controls to ensure everyone understands their role. Simplify retail third-party risk management with our Internal Control module.
Stakeholder engagement with a virtual assistant
Stop chasing colleagues and suppliers for accountability. Let a personalised virtual assistant handle it for you. Integrate with MS Teams to engage stakeholders and get insights into your latest risk assessment results.
Friendly reminders to set the right priorities
As a retail risk professional, your day is filled with assessing, monitoring, and managing third-party risks. Wasting time on setting reminders doesn’t make sense. With 3rdRisk, you get automatic reminders, so you never miss important risk management tasks.
3rdRisk is trusted by retailers like you
Read what others say about our third-party risk management platform.
FAQs and answers
We've compiled a list of frequently asked questions and answers for you. Didn't find your question? Contact us, and we'll be happy to answer.
Is 3rdRisk free for my suppliers?
Yes, your suppliers can access and use the 3rdRisk platform at no cost to them. This approach ensures seamless collaboration and encourages active participation in the risk management process.
Does 3rdRisk integrate with procurement systems?
Yes, our platform integrates with the majority of procurement systems, such as S4/HANA and SAP Ariba. Additionally, we offer bulk upload functions and one-off registration.
Can I effectively manage third-party risks with 3rdRisk, without a dedicated team?
Yes. By using our third-party risk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the platform?
No formal training is required to operate the 3rdRisk platform. It is designed to be intuitive and user-friendly, allowing users to navigate and utilise its features effectively without prior training.
Do you offer best-practice content?
Yes, our platform includes a content hub filled with curated content from our partners. Whether you're in need of a security, privacy, or sustainability questionnaire, we provide best-practice options. Additionally, we offer internal control frameworks specifically designed for retailers.
Is 3rdRisk scalable for larger retail organisations?
Yes, the platform is scalable and can grow with your business, supporting organisations of any size, from small retailers to large enterprises.