Ditch the spreadsheets and start using data-driven workflows to assess your supply base on critical third party risk domains from InfoSec to ABAC and more, improving efficiency while protecting your brand and bottom line.
Understanding what third party is doing and why, intelligently identifying and making an assessment of risk exposure.
Develop a multi-level third party risk assessment model that includes each third party and their relevant fourth parties.
Communicate risk to decision makers and maintain regulatory compliance while reducing compliance costs.
Gather internal information on exactly what the third party is doing, why, and what resources they will have access to.
Based on what the third party is doing and the risks identified, use domain-specific templates to gather the right information for risk mitigation and compliance.
Extend data gathering and risk modeling to include third and fourth parties to ensure compliance and effective risk management.
Take action to de-risk the base of third parties, managing corrective action plans as needed and transitioning spend away from high-risk suppliers where appropriate.
Ensure compliance with contractual terms for off-boarding—such return of sensitive data—while streamlining termination and transition and maintaining auditable records.
During the pandemic, BMO used their digital platform to quickly deploy a coronavirus risk assessme nt to understand the measures their suppliers and third-parties have taken to stay safe and resilient. With this data at hand, the bank’s team has been able to take acti on and easily respond to external inquiries on pandemic preparedness risk.Download Now
Understand the key features and benefits of Coupa's third-party risk management solution.
Intelligent Third Party Risk Management in Action at Accenture Operations
Deloitte and Coupa discuss how CFOs have already become more forward-looking and strategic, with the driver behind the change being risk management.