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What is Riskpro?

Third-party risk management (TPRM) establishes a comprehensive framework to assess and reduce the risks organizations encounter through their relationships with external entities. These external entities typically encompass vendors, clients, joint ventures, counterparties, and other related parties. Partnering with third parties can lead to significant enterprise risks, particularly as the number of collaborations grows, regulatory oversight intensifies, and the complexity of cyber threats increases. Consequently, organizations are placing greater emphasis and resources on understanding and addressing the potential dangers linked to these third-party connections. Although such affiliations can foster agility and competitiveness in the global marketplace, they also allow companies to delegate essential functions, enabling them to focus on their primary competencies. Nonetheless, the benefits associated with third parties are accompanied by substantial risks, including the threat of cyberattacks, interruptions to business continuity, and potential harm to reputation, all of which can critically affect a company's overall viability. Therefore, it has become vital for businesses to strike a careful balance between the advantages and hazards of third-party relationships to ensure effective enterprise risk management. In this evolving landscape, organizations must remain vigilant and proactive in their risk assessments to safeguard their interests and sustain long-term success.

What is RiskRate?

RiskRate, developed by NAVEX, serves as a comprehensive solution for managing compliance and risk associated with third-party vendors. This innovative tool enables users to keep track of vendor due diligence and mitigate risks effectively. As an integral component of the NAVEX One GRC platform, RiskRate facilitates thorough background checks on third-party entities. Additionally, it offers a robust risk management system that encompasses centralized screening processes, efficient onboarding, and ongoing monitoring of third-party relationships, ensuring a proactive approach to risk management. By utilizing RiskRate, organizations can enhance their overall compliance efforts while safeguarding against potential threats.

Media

Media

Integrations Supported

Moody's Analytics
NAVEX One
Rayven

Integrations Supported

Moody's Analytics
NAVEX One
Rayven

API Availability

Has API

API Availability

Has API

Pricing Information

$750 per year
Free Trial Offered?
Free Version

Pricing Information

$5000.00/year
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Riskpro India

Date Founded

2011

Company Location

India

Company Website

www.riskpro.in

Company Facts

Organization Name

NAVEX

Date Founded

2004

Company Location

United States

Company Website

www.navex.com/en-us/products/navex-ethics-compliance/riskrate-third-party-screening-monitoring/

Categories and Features

GRC

Auditing
Disaster Recovery
Environmental Compliance
IT Risk Management
Incident Management
Internal Controls Management
Operational Risk Management
Policy Management

Risk Management

Alerts/Notifications
Auditing
Business Process Control
Compliance Management
Corrective Actions (CAPA)
Dashboard
Exceptions Management
IT Risk Management
Internal Controls Management
Legal Risk Management
Mobile Access
Operational Risk Management
Predictive Analytics
Reputation Risk Management
Response Management
Risk Assessment

Vendor Management

Audit Management
Contact Management
Customer Database
Self Service Portal
Supplier Master Data
Transaction History
Vendor Maintained Profiles
Vendor Managed Inventory
Vendor Performance Rating
Vendor Qualification Tracking

Categories and Features

Vendor Management

Audit Management
Contact Management
Customer Database
Self Service Portal
Supplier Master Data
Transaction History
Vendor Maintained Profiles
Vendor Managed Inventory
Vendor Performance Rating
Vendor Qualification Tracking

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