Outsourcing doesn’t have to increase risk
Your company works hard to comply with relevant laws and regulations – but are your vendors, suppliers, and other third parties doing the same? As the reliance on third parties and outsourcing grows, so does your risk of non-compliance.
Third-party risk management has become top of mind in most organizations, and with the dramatic increase of breaches attributed to third parties, regulatory and authoritative bodies are holding companies accountable for their third parties’ actions. Yet few companies have the resources to continually assess and manage the evolving risks posed by external partners.
Lockpath Third-Party Risk Management provides companies with the tools to quickly implement a best practice third party risk management program. The focused solution provides configurable templates, standardized processes, and contextual reports and dashboards out-of-the-box to effectively identify, assess, manage, and monitor third party risk in real time.
- Understand your third-party risk
Centralize all third-party information, issue risk assessments, and view risk in context of the business.
- Manage and remediate third-party risk
Implement best practice risk frameworks and controls, manage risks, and collaborate with third-parties on risk investigation and remediation activities.
- Ensure compliance with regulations and standards
Create, manage, and issue policies to third-parties; capture attestations and test for comprehension to confirm third parties are, and remain in compliance.
- Get real-time insights with fast implementation
Role-based reporting and dashboards present tailored, meaningful information to multiple audiences, including senior management and executives.
Make sure your trusted partners are a strength, not a liability, in your company’s ecosystem. If you need to quickly roll out a best-in-class third-party risk management program, Lockpath Third-Party Risk Management is a smart choice.