Vendor Risk Assessment Resources
Find more information about managing third-party vendor and supplier risk.
Automate the collection, analysis, and remediation of vendor risks across your third-party vendor and supplier risk management lifecycle.
Extend the visibility, efficiency, and scale of your third-party risk management (TPRM) program with Mitratech’s automated vendor risk assessments. Leveraging a library of 800+ standardized assessment templates, AI-powered questionnaire auto-completion, and built-in workflow and remediation recommendations, the platform streamlines everything from survey collection and analysis to risk rating and reporting.
You can easily gather and correlate intelligence on a wide range of vendor controls, including IT security, compliance, performance, contract adherence, business continuity, financial position, reputation, ethics, anti-bribery & corruption, ESG, diversity and more. Meanwhile, as part of the Mitratech Enterprise Risk Management Platform, the Vendor Risk Assessment solution comes integrated with continuous Vendor Risk Monitoring to deliver a 360-degree view of third-party security, compliance, and operational risks.
Ditch spreadsheets for good and automate the collection, analysis, and remediation of vendor risks.
Zero-in on risks and control failures to gain actionable remediation guidance.
Clearly quantify and communicate business risk to stakeholders across the enterprise.
Unify control-based assessments with continuous cyber, business, reputational, and financial risk data.
Improve risk visibility and measure program effectiveness.
Integrate with ITSM, GRC, and security scoring solutions for centralized risk management.
Scale your program with flexible platform configuration options and AI.
Mitratech’s SaaS-based TPRM Solution delivers comprehensive capabilities to automate the entire vendor risk assessment lifecycle.
Learn More“As a health insurer, we have specific responsibilities to our members, and the Mitratech solution has helped us ensure that our vendors have the capabilities they need to protect our sensitive data and reduce our technology risk. Mitratech risk assessment capabilities have been a key part of helping us ensure the security of our member data.”
Mitratech’s Vendor Risk Assessment software helps security, risk management, and procurement teams address multiple types of risks.
Stay ahead of information security and cybersecurity risks by centralizing and automating IT vendor risk assessment, continuous monitoring, analysis, and remediation – all while efficiently mapping the results to common IT security control frameworks and compliance requirements.
Learn MoreCentralize, correlate, and analyze supplier data from several risk areas, including:
Streamline assessment and reporting across 50+ regulations and best-practice frameworks, including:
Find more information about managing third-party vendor and supplier risk.
A vendor risk assessment evaluates the potential risks associated with third-party vendors, such as data breaches, compliance issues, or operational disruptions. It’s critical for ensuring vendors align with your security, legal, and ethical standards while protecting your business from potential liabilities.
In many industries (e.g., finance, healthcare), vendor risk assessments are required by law or regulatory standards. Even if not mandatory, they are a best practice for safeguarding your organization.
Anyone working with external vendors (especially those handling sensitive data, providing critical services, or operating in regulated industries) should be conducting vendor risk assessments. Typically, IT security, risk management or procurement teams handle these assessments.
The frequency depends on the vendor’s risk level and industry regulations. High-risk vendors might require annual or even quarterly assessments, while low-risk vendors may only need evaluations every few years.
Key factors include:
Specialized software like Mitratech’s Vendor Risk Assessment platform automates data collection, analysis, remediation, and reporting through AI, saving time and ensuring thorough, consistent evaluations.
Choose vendors who adhere to recognized standards (e.g., ISO 27001, SOC 2) and use tools that help you monitor compliance and maintain detailed audit trails.
If a vendor fails, you can:
Use clear, visual reports and dashboards to present risks, recommendations, and action plans. Tools like Mitratech make this process seamless by offering customizable reporting features.
You can start by identifying all your vendors, categorizing them by risk level, and using a framework or tool to assess their practices. Consider using software to streamline and standardize the process for better results.
Find out how our solution puts you in control.
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©2025 Mitratech, Inc. All rights reserved.