Third Party Risk Management Software Solution - Third Party Risk Protect
Tool for third party risk management programs
A PwC India Third-Party Vendor Risk Management Software
PwC’s Third-Party Risk Protect tool is designed to transform the end-to-end third-party risk management program by accelerating the third-party onboarding, ongoing due diligence, and termination to efficiently manage the associated risks and reduce the potential third-party-related security breaches. It delivers a workflow and reporting capability covering the entire third-party risk management lifecycle from onboarding till termination along with value-added capabilities around adverse event reporting, third-party-related due diligence, and contract lifecycle management.
Major challenges in identifying risks that third-parties pose
Inefficiencies of manual processes
Increased errors as spreadsheets and emails are used to handle TPRM assessments of increasing complexity and scale
Lack of visibility
Lack of a common and consolidated view into the third-party risk profile for executive leadership
Inefficiency
Inefficiency and lack of agility as third-party management teams operate in siloed
Lack of flexibility
High upfront investment in terms of cost and time prevents businesses from adopting a GRC based third-party risk management tool
Identifying and mitigating risks with PwC India’s Third Party Risk Protect Solution
Our Third-Party Risk Protect tool is designed to manage the risks around the end-to-end Third Party Risk Management lifecycle. The tool provides a multitude of benefits around the process, technology, commercial and governance aspects.
01
Seamless Integration
End-to-end TPRM tool covering workflow management, third-party due-diligence, contract documentation management and real-time reporting platform
02
Scalability and Accountability
Integrated tool enables organisation to save time and improve resource efficiency to scale their third-party risk management program across organisation Audit Trail, SLA Management enable full accountability and traceability of actions and changes across operational levels and steps
03
Real Time Visibility
The real-time reporting capabilities enable effective and timely action and decision-making across business process operations
04
Faster Time to Value
Lower cost of implementation leveraging start-of-art technology, intuitive onboarding experience and cloud-based deployment model
05
Addressing Supply Chain Risk
Managing control on extremities of the partner ecosystem. Addressing risks from subcontracting or inconsistent security measures. Managing impact on one part of the portfolio affecting the others
