Third Party Risk Management
DigitalXForce Third Party Risk Management modules helps organizations identify, assess, and mitigate potential risks associated with their relationships with external vendors and partners.
What We Give You
Third Party / Supplier Inventory and Contracts:
DigitalXForce emphasizes the implementation of a centralized repository for tracking and managing all vendor-related data. This repository includes contracts, assessments, and performance metrics, ensuring that all information pertaining to third-party engagements is easily accessible and organized. By centralizing this data, DigitalXForce Solutions streamlines vendor management processes, enhances transparency, and facilitates informed decision-making.
Third Party Risk Assessment & Digital Trust Score:
Completed, on schedule, and overdue vendor risk assessments. Helps affirm the effectiveness of your TPRM processes, such as vendor vetting and selection. Also serves to keep stakeholders informed on where vendors are in the process and if there are any issues. Aggregated “Digital Trust” score for every third-party service provider and vendor based on the assessment of their cyber environment.
Third Party Benchmarking & Alerts:
Benchmarking of third-party service providers and vendors against standardized compliance frameworks and amongst one another. Alerts on issues exceeding risk thresholds, not just a general listing of all issues uncovered.
Third Party Risk Monitoring & Reporting:
Ongoing monitoring & reporting of compliance with downloadable detailed reports on all uncovered risks. Actionable risk plans are easily shared with third-party service providers and vendors using the collaboration.
