Third Party Risk Lifecycle Management

Fully automated risk assessment to save time and cost.

OPEN3PRX™ Risk Assess helps organization reduce effort and cost with their third party risk management lifecycle. You get the best of both.

▪ Delivers readily accessible risk assessments where vendor assessments are already available thus saving time and cost; or
▪ Enterprises can initiate their own assessment leveraging easily customizable risk assessment frameworks

For Third-Party Vendors, OPEN3PRX™ Risk Assess provides tools needed to improve their overall risk posture and track remediations.

DUE-DILIGENCE

RISK ASSESSMENT

CONTROLS AUDIT

Third Party Risk at the speed of business
We help provide a simple yet comprehensive enough solution for SMEs (Small and Medium Enterprises) who need an automated and cost-effective solution to manage their third party risks.

Easily search, find & add a Third-Party from our OPEN3PRX™ database automatically.

Leverage our comprehensive automated risk intelligence engine that analyzes 100+ data elements to vet third parties.

Leverage our OPEN3PRX™ Risk Management Framework with Maturity Levels (Level 1 to Level 5) that adopts an efficient Risk Based Approach in assessing third parties or easily build your own custom assessments from our library.

Supports both Internal and External Audits.

Automatically identifies control gaps and generates remediation action items.

Leverage our continuous monitoring capability on third parties globally across 195 countries. We cover business risks, cybersecurity, breaches, financial stability, commercial risk, credit risk, bankruptcy & legal issues, sanctions and fraud, PEP, adverse media, country risk, ESG related risks.

Automated initiation of recertification based on third-party risk categorization.

Engage your third parties to drive Sustainable Development Goals. Proudly adopts United Nations Global Compact (UNGC) and GHG Protocol frameworks for measuring and reporting GHG Emissions for Scope 1, Scope 2 and Scope 3.

Leverage our standard reports or easily build your custom reports using our integrated report designer.

open3prx™ risk MANAGEMENT framework
The OPEN3PRX™ Risk Framework provides enterprises with a broad focus covering all aspects of risks related to Third-Party Vendors.
0
RISK DIMENSIONS
0
RISK CATEGORIES
1
RISK CONTROLS

cyb

technology RISK

dpr

data & privacy risk

rcr

compliance risk

fhr

financial health risk

opr

operational risk

str

strategic risk

scr

sub-contractor risk

con

concentration risk

geo

geographical risk

rep

reputational risk

org organization Risk ESg

INDUSTRY STANDARDS & REGULATIONS

Industry Standards & Regulations

  • National Institute of Standards and Technology (NIST) – NIST SP 800-171; NIST SP 800-53, ISO/IEC 27001:2013/2022, SOC 2
  • FFIEC (USA), OSFI (Canada), Outsourcing guidelines mandated by India’s RBI, SEBI, IRDAI, TRAI.
  • Talk to us if you are looking for any specific requirements.

Industry Sectors

The OPEN3PRX™ Risk Framework covers vertically focused vendors, service providers and Startups in the FinTech, HealthTech which would need to work with enterprise customers in the highly regulated industries.


Financial Institutions, Healthcare & Pharma, Telecom, Manufacturing, Automobile, Aerospace, Oil & Energy, Retail, Consumer Food and more.

THE OPEN3PRX™ VENDOR CERTIFICATION FLOW

THE OPEN3PRX™ MATURITY LEVELS

How it Works?

1

SIGN-UP

Quickly create your organization profile

2

SELECT

Search Global Vendor Pool and build your portfolio

3

REQUEST

Request access to risk assessment data or initiate a custom assessment

4

ACCESS

Gain access to vendor risk assessments data

Interested in learning more ?