Lockpath and RapidRatings Complete Integration to Add Financial Health Data to Third-Party Risk Programs
Technology Integration Will Bring Together Integrated Risk Management and Financial Health Ratings
Published on October 30, 2018
OVERLAND PARK, Kan. – October 30, 2018 – Lockpath, a leading provider of integrated risk management solutions today announced the availability of the integration between its award-winning Keylight ® Platform and RapidRating’s Financial Health System, the industry standard for assessing a company’s viability. Through this product integration, organizations can now leverage financial health analytics within their integrated risk management programs to strengthen risk oversight and management of third-party relationships.
Joint customers can now access the FHR® numeric 0-100 score within Keylight, Lockpath’s governance, risk management and compliance (GRC) platform, to account for a third party’s financial viability within the overall vendor risk profile. These insights enable more thorough due diligence and continuous monitoring processes, to avoid companies that may fail to deliver.
“As businesses increase their reliance on third-party networks, the need for greater visibility into the risk posed by those relationships becomes more critical than ever,” said James Gellert, Chairman & CEO at RapidRatings. “When it comes to vendors and suppliers, their risk is your risk. We’re excited to partner with Lockpath to help organizations gain greater control of third and fourth-party partners.”
The integration comes at a time when companies need a better understanding of their third-party risks. By adding a Financial Health Rating to third-party risk management programs in Keylight, companies are able to more quickly identify high-risk vendors, assess the relationship in terms of business resiliency, implement additional risk management measures, and if needed, justify relationship termination.
“This integration with RapidRatings will provide our customers with a more advanced solution for managing financial health risks,” said Chris Caldwell, Lockpath Chief Executive Officer and Founder. “The combination of RapidRating’s insights with Keylight’s comprehensive risk management capabilities provides our customers with a more dynamic and holistic view into third party risk.”
Lockpath’s award-winning Keylight Platform integrates the full vendor lifecycle into daily processes and includes capabilities for information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows. By centralizing all this information in one user-friendly solution with advanced reporting capabilities, Keylight allows organizations to better manage vendor risk and to reduce the risk of non-compliance.
To learn more about RapidRatings, visit rapidratings.com.
To learn more about Lockpath, visit lockpath.com.
RapidRatings® is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Every business conversation becomes more productive, transparent and efficient with the RapidRatings’ Financial Health System. For more information, visit www.rapidratings.com.
Lockpath is a market leader in corporate governance, risk management, regulatory compliance (GRC) and information security (InfoSec) software. The company’s flexible, scalable and fully integrated suite of applications is used by organizations to manage risk, demonstrate regulatory compliance, and automate business processes — all in order to achieve audit-ready status. Lockpath serves a client base of global organizations ranging from small and midsize companies to Fortune 10 enterprises in more than 15 industries. The company is headquartered in Overland Park, Kansas. For more information on Lockpath and the Keylight Platform, visit lockpath.com. Follow Lockpath on LinkedIn and on Twitter at @Lockpath and @KeylightGRC for the latest in industry, company and product news.