Effective onboarding requires a thorough understanding of a third-party's risk profile, which can only be achieved through effective due diligence.
Why Conducting Due Diligence is Critical
Due diligence is critical for evaluating not just whether a third-party is suitable for their business needs, but also whether the third-party is likely to pose any significant risks to your organisation.
Identify Potential Issues
Be it inadequate security controls or non-compliance with regulatory requirements, engaging the services of a third-party will always introduce new risks that must be managed.
Our Due Diligence Process
IMMUNE users have access to templates with pre-defined questions that can be sent to third-parties for response. These questionnaires provide a means through which users can gather the necessary information to assess their third-party risk.
IMMUNE users may request that third-parties provide documentation in the form of financial statements, compliance certificates, or data security policies, to support their questionnaire responses.
IMMUNE collects unstructured data from a variety of sources, including public records, news articles, and social media platforms, to build comprehensive profiles on third parties.
What Proper Vendor Onboarding Can Do for You
Proper onboarding enables organisations to identify and mitigate potential risks associated with their third parties and avoid potential fallouts.
Establishing clear timelines and deliverables from the onset and ensuring that all necessary paperwork and documentation are in place will allow the third-party to begin work as soon as they are ready.
Our Onboarding Essentials
Automated Vendor Tiering
IMMUNE automatically assigns a vendor tier based on the level of risk associated with the vendor's products or services and factoring in the their reputation, degree of financial stability and more.
Automated Risk Reports
IMMUNE automatically generates risk reports that provide a clear and concise summary of the vendor's risk level and recommendations for mitigating any identified risks.
IMMUNE is essentially a centralised platform promoting collaboration with vendors, facilitating the sharing of documents and communication of updates and issues.
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Revolutionise Your Risk Management Strategy
IMMUNE is the super straightforward tool to confidently and effectively manage Nth-parties and all interdependencies within your ecosystem.
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