Managing internal risk is only half the battle.
Businesses today have gone from on-site server rooms to third-parties, cloud providers, etc, but outsourcing services does not outsource the risk. As your network grows, you are responsible for ensuring your vendors, partners, and other third parties are complying with your policies and procedures.
Extend compliance and get better visibility into every corner of your enterprise and vendor network for more complete, comprehensive operational risk management today.
Keep you and your vendors compliant in every region where you operate.
Risk is no longer bound to your headquarters. As regulations continue to shift and your employee or vendor networks expands, so does the scope of your compliance responsibilities. Explore which geographic regulations you need to keep an eye on and which related parties you need to extend internal policies and procedures to as your network grows in our Regulations Without Borders Infographic.
Manage operational risk from the inside out with Mitratech
VendorInsight®
A best-in-class Vendor Risk Management solution where ease of use meets advanced features such as vendor risk assessment, automated vendor monitoring, fourth-party vendor tracking, concentration risk analysis and more.
What are the costs of not implementing Third-Party Risk Management?
$35 million
The cost in fines and restitutions to First National Bank of Omaha for deceptive practices by a third-party vendor.
$4 billion
The amount of fines paid by Airbus to settle charges of bribery involving its third-party affiliates.
£1.9 million
How much one small U.K. bank was fined for failing to adequately manage its outsourcing arrangements.
Start today and scale tomorrow with Mitratech’s complete enterprise compliance suite
Mitratech offers a top-to-bottom, end-to-end software portfolio that delivers visibility and oversight into every aspect of your operational risk and compliance management. We’re the trusted partner in providing obligations & regulatory management, policy & procedures management, data Privacy Management, Information Governance, and Operational Risk Management. You’ll also benefit from Mitratech’s tradition of delivering outstanding performance, ROI and quick time-to-value, along with rock-solid reliability and a 100% focus on client success. It’s why we’re relied upon by over 10,000 organizations in 160+ countries.
What are the benefits of Third-Party Risk Management?
Gain visibility into operational risk before operational or compliance failures occur, wherever they occur – within your enterprise or across its vendor network.
Proactively monitor, audit, analyze, report, and take preventative or remediating steps with exceptional speed and efficiency.
Become agile and gain surety in meeting obligations under a growing universe of regulations.
Create a single source of truth to enable better compliance and quickly comply with evidence requests from auditors.
Realize quick ROI as your new tools not only reduce penalties but eliminate the time and resource drain of previous approaches.
Mitratech Third-Party Risk Management solutions
VendorInsight®
An award-winning, easy-to-use Vendor Risk Management (VRM) solution for banks, credit unions, financial services companies, and other companies who want to ensure the resilience of vendor ecosystems, even including fourth parties.
Want to speak with an expert?
Contact us and we’ll answer any questions about how Mitratech can help you improve both internal and third-party risk management.
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