Vendor & Third-Party Risk Management Software
Manage your vendors effectively throughout the entire vendor lifecycle. Make vendor due diligence, vendor risk assessments, planning, contract review, ongoing monitoring, and oversight as efficient and automated as possible.
Managing Vendor Risk Doesn’t Need to Be Overwhelming
Hyperproof’s recent IT Compliance Benchmark Survey found that 55% of surveyed security professionals struggle to get complete risk information on their third-parties. Additionally, 51% of surveyed professionals said that collecting vendor risk information is a manual and highly tedious process. The most common vendor management struggles we see are:
Maintaining an up-to-date list of vendors.
Developing insightful security questionnaires.
Getting complete questionnaire responses back from vendors.
Managing remediation projects and monitoring vendors.
Providing proof of vendor risk management activities for compliance.
It’s time to stop relying on spreadsheets and ad-hoc tools like Google forms and email for managing critical vendors. Using ad-hoc tools for vendor risk management is highly inefficient and keeps you from seeing the full picture of your vendor risk landscape, and ultimately, you’ll struggle to meet the expectations of auditors, government agencies, customers, and investors.
What You Can Do With Hyperproof’s Vendor Risk Management Software
Manage vendors and vendor risks more consistently, efficiently, and effectively. Protect your resources,
meet compliance requirements, and maintain successful, lasting vendor relationships.
Maintain Oversight of All Vendors
Hyperproof provides a home for all of your contracts, documents, and vendors. Use Hyperproof to manage, assess, track, and report on your vendors. Improve your oversight of vendor relationships and their health to foster reliable, long-term partnerships.
Assess and Reduce Vendor Risks
Use intuitive and easy-to-use built-in tools for risk assessment, vendor criticality, and risk scoring. Utilize prebuilt or tailored questionnaires with vendors to collect relevant information. Conduct one-off assessments, assessments on a fixed schedule, or both. Monitor questionnaire completion progress.
Efficiently Coordinate Vendor Risk Remediation Workflows
Assign and manage tasks related to vendors easily. Tasks can be tailored by vendor criticality and questionnaire responses. Hyperproof’s native integrations with popular project management and communications tools (e.g., Jira, Slack, Microsoft Teams, Outlook, Gmail) make vendor remediation workflows and vendor monitoring seamless. Leverage task automation, alerts, and reminders to ensure all stakeholders stay on top of their vendor management tasks.
Measure Progress and Prioritize Vendor Risk Management Activities
Stand up controls to mitigate risks from vendors. Easily see and verify that your third-party risk management practices meet regulatory requirements and internal policies. Understand the residual risk on your vendors. See which vendors still need to complete questionnaires. Quickly determine which vendors you need to focus on next.
Demonstrate Compliance With No Extra Effort
An increasing number of IT security standards and certifications have vendor risk management requirements. Within Hyperproof, it’s easy to map information gathered from vendors to risks, controls, and regulatory frameworks including ISO 27001, NIST, CMMC, GDPR, SOX, and more to quickly address key compliance requirements.
Who Benefits From a Vendor Risk Management Solution?
Streamline and automate the scheduling, collection, analysis, management, and remediation of vendor risks in a central platform.
See that vendor risks are actually being managed.
Ensure that vendors are keeping their promises, monitoring contracts and performance, and more.
Benefits at a Glance
Reduce the manual labor behind vendor survey and response management
Quickly identify risks and control failures
Speed up communications and status reporting with vendors
Speed up communications with internal stakeholders
Improve accountability around vendor risk controls
Clearly communicate actual business risks to stakeholders
Integrate with Hyperproof’s compliance operations and risk management solutions for centralized risk and compliance management.
Explore Our Vendor Risk Management Platform
You can implement the vendor register software in minutes to centralize all information about your vendors and allow your team to effectively collaborate to mitigate vendor risks.
Vendor Risk Assessment Questionnaires
Reduce your third-party risk assessment workload. Hyperproof comes with pre-built vendor risk assessment questionnaires to help you jumpstart the risk assessment process.
Support and Education
Our customer success team will ensure you have the product knowledge and advisory support you need to stand up a vendor risk management program. We can also refer you to qualified third-party risk management experts within our partner network who can provide best practices and ongoing support.