Overview

Riskonnect is a cloud-hosted risk management program that offers an integrated product for audit management, enterprise risk management, business continuity management, and compliance management. The software’s risk management information system (RMIS) empowers risk professionals to detect threats and take remedial actions. Further, the platform automates different time-intensive and repetitive manual tasks.

With Riskonnect, risk professionals can perform operational and internal audits of all their organizational processes. Executives can produce an audit strategy, store needed files, and summarize outcomes in a report. The software integrates with leading tools like Conga, Adobe, Salesforce, and IBM Cognos to facilitate data connections and offer additional functions. Lastly, the vendor presents mobile apps for Android and iOS devices.

Benefits

Third-Party Risk Management

Reduce the drawbacks of partnering third parties so you can enhance the upside.

Safeguard Yourself from Third-Party Errors

Third-party suppliers and vendors are important for business success, but they can also pose significant risk. Riskonnect offers a third-party risk management platform that consolidates all your vendor data in a single, cloud-hosted application that tracks third parties across the entire relationship lifespan.

A Proactive Approach to Third Party Management

The application monitors in real time all aspects related to third-party vendors, including contracts, agreements, access credentials, and policies.

Streamlines Third-Party Monitoring

Collects vital documentation and details for all third parties, including your channel partners, vendors, and vendor’s suppliers.

Automates processes to enhance reliability and save time.

Offers a portal for suppliers to post responses.

Vets potential vendors consistently and thoroughly.

Detects Vulnerabilities

Creates apt questionnaires based on supplier type.

Computes a risk score and overall categorization (e.g., low, medium, high) for each supplier.

Monitors vendor concerns – and corroborates that they have been addressed.

Protects Your Company

Automatically reevaluates each vendor as per a defined timetable.

Produces an audit trail of documentation.

Delivers alerts about expiring documents.

Effortlessly communicates third-party risk with point-n-click reports and dashboards.

Riskonnect automates and streamlines tracking of third parties so you can swiftly pinpoint high-risk vendors, collaborate on evaluations, and focus your efforts on priority strategic activities.

Riskonnect Features

Assessments

Automatically reevaluates each vendor as per your decided schedule and delivers alerts if any element is not compliant.

Certificate Management

Simplifies compliance tracking and management of contracts, agreements, access credentials, and polices to minimize third-party risk exposures.

Dashboards

Uses visual dashboards to communicate vendor status effectively and quickly.

Onboarding           

Speeds up third-party supplier onboarding with customized questionnaires and a dedicated portal.

Analytics and Reporting

Fuses robust analytics with flexible and intuitive report design features to assist you to make informed decisions about your risk information.

Risk Rating

Computes an overall classification and risk score for each third-party vendor to pinpoint your riskiest suppliers.

Product Features

Pricing

Riskonnect has not provided pricing details on their website. Contact them directly to get current pricing information.