How does iGRCs support this work?
Maintain the relevant supplier picture
Keep vendor records, ownership and assessment information together. Use criteria that reflect the supplier’s role, access and operational importance.
Assess proportionately
Configure questionnaires and review criteria for financial, cyber, operational or other concerns. Associate supporting reports and documents with the review.
Connect findings to action
Assign remediation, retain decision records and link supplier issues to relevant risks, incidents and recovery arrangements.
How does third-party risk management differ from procurement administration?
Procurement administration manages the commercial purchase and relationship. Third-party risk management examines the exposure and assurance arising from that relationship. Connected records help risk considerations inform commercial decisions.
Which requirements are relevant?
Relevant criteria may come from contracts, privacy duties, security expectations, sector outsourcing requirements or internal policy. Your team determines the applicable obligations and the assurance required for each relationship.
Frequently asked questions
Can reviews differ by supplier criticality?
Configurable assessment questions and agreed processes support proportionate reviews. Confirm any automated scheduling or trigger requirements during evaluation.
Can supplier incidents inform reassessment?
Link the incident and related actions to the supplier so the next review can consider what happened and the response taken.
See iGRCs in action
Discuss your current process, the people involved and the evidence you need. We will demonstrate the relevant capabilities and explore an appropriate configuration.