OPEN3PRX™ Risk Management Framework

SMART Risk Insights for
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Trusted Source For Third Party Risk Assessment & Ratings Data

  • Enterprises can quickly access trusted and validated risk assessment data
  • Third Party Vendors  (Product or Service Providers)  including startups can get their risk posture improved by certified Risk Practitioners  with ability to share the validated risk ratings data with multiple enterprises customers
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open3prx™ risk MANAGEMENT framework
The OPEN3PRX™ is the only Risk Exchange that provides Enterprises with  broad focus covering all aspects of Risks related to Third-Party Vendors. All third-parties in the exchange are continuously monitored and changes to their ratings are reflected almost on a near real-time basis.
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RISK DIMENSIONS
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RISK CATEGORIES
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RISK CONTROLS
cyb

technology RISK

dpr

data & privacy risk

rcr

compliance risk

fhv

financial health risk

osc

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

  • National Institute of Standards and Technology (NIST) – NIST SP800-53,
  • ISO International Organization for Standardization : ISO/IEC 27001:2013,
  • US,  Department of Defense (DoD) Cybersecurity Maturity Model Certification CMMC.

Industry Sectors

The OPEN3PRX Exchange 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.

A HOLISTIC APPROACH TO VENDOR RISK SCORING

Our SMART Assessment Algorithm combined with our Continuous Monitoring of vendors provides Enterprises with a near real-time Vendor Risk Grading and Scoring across 12 Risk Dimensions.

VERY LOW 

RISK

GRADE

AA

SCORE

91-100

LOW 

RISK

GRADE

AB

SCORE

81-90

MODERATE 

RISK

GRADE

BC

SCORE

61-80

HIGH

RISK

GRADE

CD

SCORE

41-60

VERY HIGH 

RISK

GRADE

DD

SCORE

0-40