Enterprise Third-Party Risk Management (TPRM) Software

Take on New Vendors with Confidence and Automate Risk Protection

Take Back Control of Vendor Risk

In 1786, Scottish philosopher Thomas Reid coined the proverb that “a chain is only as strong as its weakest link”. This principle applies to enterprise risk management teams balancing a growing network of infrastructure, partners, suppliers, investments, and technology.

At the same time, targeted cyberattacks are targeting third-party suppliers as a backdoor into an internal enterprise network. Recent data breaches such as Equifax, Target, and Solarwinds showcase how outdated, manual approaches to third-party risk management (TPRM) aren’t sufficient to keep pace with the evolving “supply chain attack” landscape.

CENTRL Vendor360 provides clear oversight into the third-party risks facing your enterprise risk management program by proactively identifying, assessing, remediating third-party risk throughout each stage of vendor lifecycle.

Third-Party Risk by the Numbers

181 vendors

an average are granted access to an internal enterprise network (eSecurity Planet).

430% spike

Experts predict a spike in supply chain attacks targeting open-source systems (eSecurity Planet).

63%

of data breaches are caused by a third-party service provider (eSecurity Planet).

$7.5 million

is the average cost of a third-party data breach (Ponemon Institute).

$3.8 million

Is the yearly “hidden cost” of managing vendor risk (Ponemon Institute).

83%

of legal and compliance executives identified third-party risk after the initial due diligence was complete (Gartner).

The Solution:
CENTRL Vendor360

Easily configure the solution to match your governance, risk and compliance processes and framework. Used by risk professionals globally, Vendor360 allows you to easily identify, manage and mitigate your risks across your business.

Dashboard & reporting

Vendor360 comes with built-in dashboards and reports with pre-built industry best practice questionnaires to streamline due diligence.

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Easy Vendor On-Boarding

Streamline pre-contract inherent risk analysis for new vendors by sending surveys and questionnaires to multiple internal teams.

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Maintain Regulatory Complianc

Easily manage regulatory demands and compliance mandates using Vendor360’s centralized repository for compliance risk management.

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Continuous Monitoring

Gain real-time insights into vendor risk throughout the full duration of the third-party relationship, mitigating risk after the initial on-boarding and due diligence is completed.

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Automate Vendor Risk Assessments

Automate the process of ongoing vendor assessments while maintaining needed oversight. Leverage intuitive workflows to automate risk identification, assessment, and remediation.

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Spreadsheets Eliminated

Automated questionnaires reduce manual intervention and the need for spreadsheets, simplifying the assessment process for both the enterprise and their partners.

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Around the world

What are our clients saying?

I found myself going in […] to verify hours entered, as what they had entered was considerably lower than then usual time required, now using CENTRL. Jobs that normally take 50-60 staff hours of time, were coming in at 20-30 total hours, an improvement of 33% to 50% time on projects. Generally speaking, CENTRL has saved us at least 20-30% time across the board.

Kevin Brady
Sr. Manager in EisnerAmper’s PRTS Practice

Passionate about helping our clients maximize the value they derive from their third-party relationships. Leveraging CENTRL’s leading-edge technology to identify, mitigate and control risks typically associated with these relationships allows us to bring additional value and safeguards to our clients.

Lois Coatney
Partner at ISG

Enterprise Third-Party Risk Management (TPRM) Software

Take on New Vendors with Confidence and Automate Risk Protection