Third-Party Risk Management

The Automated T P R M (T P R M – Third Party Risk Management) is a SaaS solution that provides an end-to-end management platform to identify. profile, and assess suppliers and partners within the Supply Chain. Regular assessments can be performed based on the supplier’s criticality and level of access to data, allowing the organization to have a 360-degree view of their data’s journey and the current protection applied to safeguard the data within the supply chain.

TPRM includes Vendor Risk Management 

Leveraging our vendor risk management platform, the organization can identify, profile, and proactively manage cyber and privacy risks across their 3rd and 4th suppliers based on their impact on their critical business assets.

Core features of T P R M include:

Communication: The platform provides customized and fit-for-purpose panels for leadership, contract managers, auditors, and suppliers. It facilitates the identification of an accountable entity to oversee the Supply Chain process, contract managers as the primary source of communication with suppliers, auditors for on-demand engagements, and suppliers to participate in regular assessments and provide visibility of protection applied to the Customer Data.

Automation: Automated and reliable assessments using the intelligent mechanism coded into the platform and dynamic assessment questionnaires can substantially reduce the time spent on spreadsheets and costly consultants manual efforts

Relevance: The Forte VRM is driven by the supplier’s business context and their level of access to Customer Data. Therefore, its results mainly focused on the supplier’s performance, compliance, and effectiveness of Cybersecurity controls to protect the customer Data.

Thoroughness: The platform thoroughly assesses your suppliers and provides a detailed level of visibility over the supplier’s Compliance, Quality Management Serviceability, Data Privacy, and Cyber Resilience. These assessments can be launched based on the supplier’s level of criticality to the business or the nature of their access to the customer data.

Threat Intelligence: The platform can further monitor your high impact suppliers using our threat intelligence feeds, This will ensure that your incident response team will not lose crucial moments when detecting and responding to zero-day vulnerabilities that could largely impact your data assets.

Fourth & Nth Party Supplier: The platform can identify high-impact fourth-party suppliers and find the control gaps within their cyber capabilities that could pose a high risk to your organization.

Third-party risk management (TPRM) consulting services: Utilizing technology, CyberKnox teams can help you make better-informed decisions faster about third parties. We examine risk from every angle and provide you with the insights you need to identify the partners that will create better long-term value for your business.

Your business challenge
In the Transformative Age, businesses that are able to make smart decisions at pace thrive. And there aren’t any decisions more important than choosing whom you partner with. The most agile organizations work with multiple third parties in order to stay competitive. All these relationships are important, but each one adds risk: cyber risk, regulatory risk, brand risk, etc.

Solution benefits
CyberKnox offer a complete spectrum of broad services that help enable better decisions about whom you work with and how you manage your third-party risk. Solution benefits include:

• A proactive, centralized approach to help you develop and enhance your program and monitor unforeseen risks.
• Ability to implement and integrate systems and technologies to help manage your third-party population across the relationship lifecycle.
• Increased efficiency and cost savings that enable growth, confidence and trust.