Compliance
Our cloud-based risk platform is designed to support compliance professionals with identifying, analysing, mitigating and monitoring compliance risks.
3 challenges
#1. Internal compliance
Maintaining robust internal compliance amidst evolving regulations and organisational complexities.
#2. Regulatory landscape
Keeping up with the complex and ever-changing regulatory landscape across different regions and industries.
#3. Third-party compliance
Guaranteeing that third-party partners, like customers and suppliers, adhere to necessary compliance standards.
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
3 common challenges
and our solutions
Our solution for compliance professionals
Register internal and external risks. Link risks to a specific third-party, internal control(s) and/or location within your organisation. Follow the ISO 31000 best-practice workflow containing of risk identification, assessment, treatment and monitoring. Use the interactive risk matrix to easily filter different risk disciplines and scores.
One integrated register for all your internal & external compliance requirements Use it to manage compliance requirements for security, sustainability, privacy, legal, quality and many others. Define a specific scope & applicability per compliance requirement and link them to one or more assessment questionnaires. Monitor compliance in real-time.
One integrated register for all your third parties. Register multiple contracts per third-party. Assign risk profiles to segment your landscape, taking into account multiple risk domains such as cybersecurity, sustainability and compliance. Connect with your procurement system to retrieve and enrich your supplier data.
Integrate the different third-party assessment efforts of all your risk and compliance disciplines. Combine questionnaires from different risk disciplines into one third-party assessment. Suppliers log in to a secure supplier portal in which they can collaborate and provide their evidence. Our AI-powered review module makes an initial analysis.
Our AI tool analyses SOC-2 attestation and ISO certificates, identifying the applicability and key areas that require attention. This AI-powered evidence analysis streamlines the review process, ensuring that critical insights are taken from complex compliance documents, and enhancing the accuracy of your third-party due diligence process. And not insignificantly: it reduces the time required to analyse these reports by more than 90%.
Continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Activate our out-of-the-box integrations with BitSight, SecurityScorecard, Ecovadis, Refinitif and many others to retrieve your third-parties' security, sustainability, financial or compliance risks ratings in one central overview.
Our platform enables you to register, track and manage the action plans of your third-parties, ensuring that any identified risks are effectively managed and resolved. This feature allows for the documentation of action plans, assigning responsibilities, and setting deadlines for risk mitigation activities. Our integration wit Microsoft Teams ensures that your internal teams will be notified mmediately about new action plan and changes through a Teams message.
Equipped with best-practice reporting templates, our platform incorporates AI to assist in generating comprehensive summaries of the entire assessment process. This advanced reporting capability ensures that you have a clear, actionable understanding of your third-party risk landscape, facilitating informed decision-making and strategic risk management. Our best practice reporting templates include visuals such as bar charts and spider diagrams and can be branded to reflect your corporate identity. Data can be exported to PDF and Excel based on your specific needs.
FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Can 3rdRisk help in managing third-party compliance risk?
Yes, 3rdRisk excels in managing third-party compliance risks. Our platform conducts comprehensive third-party assessments, including sanctions and PEP screenings, to ensure that all your external partnerships comply with the necessary standards and regulations.
Is it possible to generate compliance reports easily with 3rdRisk?
Certainly. 3rdRisk enables easy generation of detailed compliance reports. These reports can be customised to suit your specific requirements, providing clear insights into your compliance status and areas that require attention.
Can I integrate my own compliance framework into 3rdRisk?
Yes, you can. 3rdRisk allows you to integrate your existing compliance framework into our platform. This flexibility ensures that you can maintain continuity with your current processes while leveraging our advanced compliance management tools. We also have a Content Hub with prefilled best practice frameworks and questionnaires.