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Description
The rise of globalization has heightened competition in the business landscape significantly. To maintain a competitive edge, it is essential for companies to enhance their operational efficiencies and quality. The relentless drive to excel remains consistent, regardless of the organization's size, location, or sector. Many traditional management approaches continue to depend on outdated manual processes or fragmented software solutions that lack proper integration. The reliance on antiquated data collection methods, passed down through generations, fails to meet the dynamic requirements of modern businesses. This results in information gaps, disruptions in business processes, and outdated data that hinder owners' abilities to manage their operations effectively, often leading them to create time-consuming workarounds just to complete tasks. Additionally, inefficient data collection and slow decision-making contribute to lost market opportunities, wasted resources, and budget overruns. These challenges are exacerbated by the pressures of globalization, making it increasingly crucial for companies to embrace change. Organizations that do not respond to evolving industry needs may face dire repercussions in the competitive market. Ultimately, adapting to these shifts is not just an option but a necessity for survival.
Description
Third-party risk management (TPRM) provides a systematic framework to evaluate and mitigate the risks that organizations face due to their associations with external entities. These external entities primarily include vendors, customers, joint ventures, counterparties, and fourth parties. Engaging with third parties can introduce considerable enterprise risks, especially as the number of partnerships expands, regulatory scrutiny increases, and the landscape of cyber threats becomes more intricate. As a result, businesses are increasingly allocating resources and focus towards understanding and managing the potential risks associated with these third-party affiliations. While such relationships enhance flexibility and competitiveness in the global market, they also enable organizations to outsource critical functions, allowing them to concentrate on their core strengths. However, the advantages brought by third parties are accompanied by serious risks, including the potential for cyberattacks, disruptions in business continuity, and damage to reputation, all of which can severely impact the overall health of a company. Thus, balancing the benefits and risks of third-party relationships has become essential for effective enterprise risk management.
API Access
Has API
API Access
Has API
Integrations
No details available.
Integrations
No details available.
Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
$750 per year
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
Digital Research Labs
Founded
2000
Country
Pakistan
Website
drl.com.pk/solution/
Vendor Details
Company Name
Riskpro India
Founded
2011
Country
India
Website
www.riskpro.in
Product Features
ERP
Accounting Integration
Accounting Management
CRM
Dashboard
Distribution Management
Enterprise Asset Management
Financial Management
HR Management
Inventory Management
Order Management
Project Management
Purchase Order Management
Purchasing
Reporting/Analytics
Sales Management
Supply Chain Management
Warehouse Management
Product 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