Third-Party Risk Management Software

How reliable are the vendors and suppliers that you depend on? Is your third-party risk management software providing a consolidated view of vendor risk? The Camms third-party risk management tool provides comprehensive workflows for third-party risk assessments, vendor benchmarking, and ongoing performance monitoring.

Monitor vendor performance

Build a vendor library capturing critical data around contract details, SLAs and KPIs and monitor ongoing performance against key metrics.

Automate vendor risk assessments

Staff can use our third-party risk management platform to complete vendor risk assessments via online forms that feed directly into the platform.

Vendor portal

Vendors and suppliers can complete questionnaires, surveys, and assessments online via our vendor portal enabling firms to report on the results and easily compare vendors.

Third-party risk intelligence

Our TRPM platform links to third-party risk intelligence providers via API integrations to help firms understand vendor risk in terms of financial stability, ethical standpoint, legal & regulatory convictions, and cybersecurity posture.

Vendor & Third-Party Risk Management Software

Today’s organizations rely on a network of vendors, suppliers, and contractors to deliver their services. Failing to effectively manage third-party risks can severely impact operations. Unexpected failures by supply chains and support vendors have the potential to cause irreversible damage to an organization’s reputation and erode trust with both existing and prospective customers. Consequently, there is increased pressure on governance, risk, and compliance professionals to demonstrate to executive teams that third-party risk management should be considered a priority as part of their broader risk framework.

To effectively manage vendor risk, you will need a cloud-based integrated third-party risk management platform to monitor vendor performance, detect risk and report on key metrics.

Vendor & Third-party Risk Management
Monitor performance against KPIs and SLAs
Vendor portal
Online vendor risk assessments
Supplier benchmarking & score-carding
Comprehensive supplier register
Analytics & reporting
Stakeholder dashboards
Automated vendor risk assessments

Third-Party risk management software capabilities

Online vendor register

Build an online vendor register within our TPRM software. Create a profile for each vendor capturing critical details around, costs, contract, key contacts, Service Level Agreements (SLAs), and Key Performance Indicators (KPIs). Formalize the onboarding and offboarding process and conduct vendor risk assessments, score-carding, and benchmarking – with all data synced to the relevant vendor profile to easily compare and rate vendors and address sub-standard performance.

Flexible vendor risk assessments

Staff can complete vendor risk assessments online – with all details feeding directly into the platform. Organizations can configure different forms for different types of suppliers to ensure all critical evaluation steps are captured. The Camms third-party risk management platform enables companies to create conditional workflows for third-party risk assessments. Organizations can create extended questionnaires to capture and evaluate key attributes, use the responses to determine alternate routes in the workflow, incorporate approvals and signoffs, carry out regular reviews with automated alerts, and identify & track the progress of any treatment actions.

Online vendor portal

Eliminate the need to manually email questionnaires and tabulate responses by using the Camms third-party risk management vendor portal. Vendors can log in to our TPRM platform and complete questionnaires & surveys online. Results are captured directly in the tool and integrate seamlessly into the broader workflow so that once a vendor completes their assessment, it can trigger alerts and open the next steps for internal staff to progress the assessment.

Real-time dashboards & reports

Our vendor management software enables organisations to run reports on vendor risk exposure – enabling executives to understand the dependencies on each supplier and the associated risks. Report on vendor performance against KPIs and SLAs.

Third-party risk intelligence via API integrations

Use our API integration technology to seamlessly link vendor assessments with external third-party risk intelligence providers to get real-time updates on supplier finances, sustainability ratings, sanctions listings, cybersecurity rankings and more. This information gets updated to the vendor’s record directly within the Camms third-party risk management software and feeds into reporting and analytics.

Regulatory compliance

Use our supplier risk management platform to ensure your vendors & suppliers are working in line with relevant compliance obligations. Camms regulatory compliance capability links to our third-party risk management framework. These native integrations to our partner content providers allow firms to easily obtain information on key compliance obligations and link these through to vendor assessments to clearly demonstrate compliance during audits.

The Forrester Wave™
Governance, Risk & Compliance Platforms,
Q4 2023

Access the latest Forrester Wave report to find out how the top 15 GRC software providers ranked and discover the distinctive qualities that we believe set Camms third-party risk management software apart from other vendors in the industry.

Your Third-Party Risk Management Resources

The latest and hottest pieces of Third-Party Risk Management content to keep you in the loop.

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