The Third-Party Module from Smart Global Governance empowers you to effectively manage risks associated with your clients, partners, and suppliers. It harnesses the nine common functionalities found in our other Risk & Compliance Modules, in addition to features unique to this module. 

Conducting due diligence on third parties is made seamless with information readily available from your information system, responses provided by third parties via customizable questionnaires, and insights gathered from external databases (financial, sanctions, CSR, and more). A truly comprehensive solution for navigating the complex landscape of third-party risk. 

9 Core Features Across All Modules

Compliance Evaluations

Monitor the compliance of your partners with over 170 standards and regulations, with the capability to add more. 

Example : Check a supplier’s compliance with anti-corruption regulations.

Risk Mapping

Create detailed risk maps to understand the risks associated with your third parties.

Example : Visualize geopolitical risks associated with your suppliers.

Document Management

tore and manage documents related to third-party compliance and risks.

Example : Centralize your suppliers’ contracts and certifications.

Risk Registry

Track and mitigate risks related to your third parties.

Example : Identify supply chain-related risks. 

Controls Catalogue and Collaborative Action Plans

Implement action plans to mitigate third-party risks.

Example : Collaborate with a supplier to improve their CSR practices.

Training Management

Ensure your staff is informed about third-party risks and mitigation measures.

Example : Train your procurement team on due diligence practices. 

Risk Assessment and Analysis

Analyze and take steps to mitigate risks associated with your partners.

Example : Evaluate the risk of dependency on a single supplier.

Incident Management

Track and resolve incidents related to your partners.

Example : Manage a data breach incident involving a subcontractor.

Meeting Management

Prepare and follow-up on meetings related to third-party risk management.

Example : Organize a meeting to discuss the risk evaluation of a new supplier. 

In addition to common features

Specific functions for better management of Third-Party related issues

The Third-Party Module of Smart Global Governance offers specific features to optimize the management of third-party risks, in addition to the 9 common functionalities. These specific features include :

Connecting to your informations systems

Easily integrate data from your partners and suppliers into your existing information systems.

Example :
Automatically retrieve supplier information from your ERP. 

Ready-to-use and customizable questionnaires

Utilize pre-existing and customizable questionnaires to assess compliance, ethics, investigations and sanctions, finance and credit, antitrust, quality, and more. Additionally, integrate your own questionnaires.

Example :
Send a customizable business ethics questionnaire to a potential partner. 

Connecting to external databases

Enhance third-party information by connecting to external databases to verify their compliance and performance.

Example :
Verify the solvency of a supplier by connecting to an external financial database. 

Continuous monitoring

Continuously monitor the compliance and risks of your third parties to ensure they adhere to your organization’s requirements and standards.

Example :
Receive automated alerts in case of significant changes in a supplier’s situation.

Multiple configurable validation levels

Set validation levels for the information collected on your third parties, based on associated risks and the needs of your organization.

Example :
Configure validation by the procurement manager for suppliers with a high-risk level. 

Application of third-party risk criteria

Apply specific risk criteria to each entity of your organization for third parties, based on centralized and collected information.

Example :
Evaluate the risks associated with a supplier based on criteria such as geographical location, industry sector, and organizational size. 

Interoperability in the Third-Party Module

The Third-Party Module of the Integrated Risk Management framework leverages interoperability to create a powerful synergy with other specialized Risk and Compliance Modules. 

✔️ Synchronized Requirements

Interoperability allows you to correlate third-party compliance requirements with those of other areas covered by the Modules. For instance, ensure your suppliers adhere to ESG standards and data protection regulations.

✔️ Conflict Resolution

Quickly detect and resolve inconsistencies between various requirements related to third parties and other compliance areas. For example, if a supplier must comply with both ISO 9001 quality standards and antitrust regulations, interoperability helps you in identifying and resolving potential contradictions.

✔️ Document Efficiency

By applying the documentation of one requirement to other standards or regulations, you avoid duplication and reduce costs related to maintenance and updating of requirements. For instance, documents related to a third party’s ESG compliance could also be used to assess their health and safety performance.

✔️ Quality and Performance Enhancement

Thanks to interoperability, data sharing and collaboration between the Modules are seamless, enhancing compliance and optimizing risk management. For example, coordination between the Legal and Third-Party Modules can help ensure that contracts with suppliers include suitable clauses to minimize legal risks. 

The integration of the Third-Party Module with the Integrated Risk Management framework, through interoperability, offers significant benefits in terms of efficiency, conflict resolution, and quality. This synergy between the Modules enables you to maximize risk management and compliance performance for your organization, while ensuring optimal resource utilization. 

Ready to transform your risk and compliance management?

Join over 300,000 users who already trust us in 100 countries!


Join us as a partner