Efficiently manage your vendor engagements with the IBM OpenPages Third-party Risk Management module.
Make risk-aware decisions across the Three Lines Model. The OpenPages Third-Party Risk Management module helps reduce disruption and possible negative impacts to your organization's compliance, brand or operations due to a vendor’s inability to deliver. Protect private information shared with vendors and prevent misuse of direct access to network resources.
Helps create a centralized, tightly mapped structure of third-parties' risk hierarchy including risks, controls, KRIs, locations and regulations; supports third-party categorization based on risk, criticality and other factors.
Connects with enterprise and external systems to import information on vendors; consolidates and maps third-parties’ data in a common repository; scales to accommodate thousands of vendors.
Provides configurable methodologies to assess and score inherent and residual third-party risks; captures detailed vendor risk data, including risk severity, impact, consequences, mitigating plans and issues.
Guides vendor risk issues through a systematic process of investigation and resolution to enhance collaboration with vendors on corrective action. Provides real-time visibility into vendor issues.
Streamlines and standardizes the process of creating, distributing, and following up on vendor risk surveys and questionnaires; helps qualify vendors based on assessment scores.
Automatically complement vendor risk assessments by integrating with Vendor Monitoring Solutions such as SecurityScorecard, RiskRecon, RapidRatings, or Supply Wisdom.