3GRC Risk Management Portal
All organisations rely on a range of partners and suppliers in order to deliver their core services. These external parties receive and handle a range of potentially sensitive information from your company – which means there is a possible lack of visibility and control over how this data is being handled. This in turn raises the risk of inadvertent data security breaches and of non-compliance, if the 3rd party does not have the appropriate controls in place to safeguard your data.
Ensuring partners and suppliers manage your information securely is a signi cant challenge. Done manually, it can be enormously time-consuming to survey each 3rd party with which an organisation works, compile a risk register for each party, manage them to minimise those potential risks and provide audit reports for senior stakeholders. As such, few companies ever achieve complete risk management across their ecosystem of 3rd party relationships.
To address this problem, 3GRC has developed a 3rd Party Risk Management Portal which helps companies:
• Manage and control their 3rd party partner and supplier relationships
• Assess possible information security and data management risks in those relationships
• Perform due diligence and ensure regulatory compliance
The Portal enables companies to automate and streamline information security and data management risk assessments in 3rd party relationships. Prospective and existing 3rd parties complete an information security survey, from which potential data security and compliance risks are automatically identi ed and prioritised in a register for review. The portal includes facilities for 3rd parties to submit mandatory supplementary evidence, such as certi cation and relevant insurance documents. All information and evidence is stored in a secure format with easy-to-navigate associations to 3rd party responses.
- Easy to use survey-based format to capture information which minimises e ort in performing vendor due diligence
- Standardises 3rd party risk assessment processes
- Enables easy building of 3rd party relationships and company pro les
- Automatically identi es and presents possible information security risks
- Builds a detailed picture of risk exposure from 3rd party relationships and how those risks can be managed
- Lowers organisational exposure to risk and ensures regulatory compliance