OneTrust Third-Party Risk Management is a comprehensive software solution designed to streamline and automate the entire third-party lifecycle. It offers tools for inventory management, risk assessment, monitoring, and reporting, helping organizations effectively manage and mitigate risks associated with their third-party relationships

Key Features

Centralized Third-Party Inventory Efficiently manage and prioritize third-party relationships

• Aggregate individual third-party details into single, editable profiles
• Use a centralized dashboard for enhanced visibility across the inventory

Risk Assessment and Mitigation Identify and address potential risks effectively

• Choose from over 50 built-in control frameworks or import custom ones
• Utilize out-of-the-box mitigation recommendations and workflows
• Implement rules-based triggers for automated risk assignment

Real-Time Monitoring and Automation Stay informed about changes and potential risks

• Set up automated rules for actions and notifications
• Integrate with various systems to streamline workflows and information sharing

Reporting and Analytics Generate insights and maintain compliance

• Create customized dashboards based on user roles and preferences
• Export brandable PDF reports for stakeholder reviews
• Automate recordkeeping for regulatory compliance

Benefits

Enhanced Risk Management Improve overall third-party risk posture

• Quickly identify and prioritize high-risk relationships
• Implement proactive risk mitigation strategies

Increased Efficiency Streamline third-party management processes

• Automate manual tasks and workflows
• Reduce time spent on assessments and reporting

Improved Compliance Ensure adherence to regulatory requirements

• Access pre-completed, industry-standard vendor risk assessments
• Maintain comprehensive records for audit purposes