Streamline Third-Party Risk Management for Stronger Compliance and Security

Third-party risk management software introduces significant risks. If business operations are a house, vendors and third-party providers are the bricks holding it up. Exposing your valuable and highly confidential information to another company ups the ante for everything from cybersecurity threats to regulatory violations to operational disruptions and reputational damage. Done wrong, everything comes crashing down to the ground.

When information is no longer in your hands and instead goes into the wrong hands, compliance issues can increase, data privacy concerns can grow, and mitigating risks becomes increasingly complex.

For industries like financial services, where compliance is tightly regulated and data security is paramount, managing third-party risk keeps you afloat and thriving.

Did you know? As of June 2024, 2,741 publicly disclosed incidents meant nearly 6,900,000,000 records were breached.

SAI360’s Third-Party & Vendor Risk Management software helps organizations identify, manage, and remediate third-party risk while maintaining compliance and protecting brand reputation. Designed for industries with complex regulatory landscapes, such as banking, insurance, and financial services, this solution provides a structured approach to risk management. Ultimately, it ensures third parties are continuously monitored and aligned with your organization’s risk tolerance.

Identify, Manage, and Remediate Third-Party Risk Across Your Extended Enterprise

SAI360’s Third-Party & Vendor Risk Management software automates the entire third-party risk management process (TPRM), streamlining upfront due diligence and enabling continuous monitoring of vendor relationships. The TPRM software offers:

• Ongoing Third-Party Screening – Monitor cyber, financial, credit, and other risks using integrations with SecurityScorecard, WorldCheck, Argos Risk, and more

• Automated Alerts – Stay informed with real-time updates on vendor changes and risk score fluctuations, enabling swift action when threats emerge

• Centralized Vendor Data – Maintain a single source of truth for vendor profiles, risk scores, contract data, and compliance status, enhancing visibility and accountability

• Contract Lifecycle Management – Manage contracts from onboarding to renewal, ensuring timely revisions and eliminating risks associated with auto-renewals

Proactively Manage Vendor Risk in Regulated Industries

In sectors like financial services, regulatory bodies demand rigorous oversight of third-party relationships. SAI360 helps financial institutions comply with regulations such as data privacy laws, anti-money laundering (AML) mandates, and cybersecurity requirements by:

• Streamlining Due Diligence – Use pre-built templates aligned with frameworks like NIST CSF, CIS, and SIG to ensure consistent assessments and regulatory compliance.

• Enhancing Risk Visibility – Pre-configured dashboards and analytics allow organizations to visualize vendor risk, prioritize mitigation efforts, and present actionable insights to leadership and Boards.

• Mitigating Cyber and Compliance Risks – Continuous monitoring and automated alerts help financial institutions quickly respond to emerging risks, reducing the likelihood of costly compliance breaches.

Did you know? 277 days = the average amount of time it takes security teams to find and mitigate a data breach.

Optimize Third-Party Risk Management to Safeguard Your Organization

SAI360’s Third Party Risk Management software gives GRC leaders the tools to strengthen oversight, minimize vulnerabilities, and align with evolving regulatory requirements. With real-time monitoring, comprehensive risk assessments, and centralized data management, organizations can proactively manage third-party risk and maintain business continuity.

Ready to optimize your third-party risk management program? Click here to demo our GRC solutions.