Customers Using Predict360’s AI-Powered Solutions
Third-Party Risks Increase Enterprise Vulnerability
Predict360’s Third Party Risk Management (TPRM) and vendor compliance solution help businesses manage and track all third parties it uses under one platform. The solution includes complete lifecycle management and keeps track of issues and performance. The software provides a centralized data repository that collects information and documents about third parties using configurable checklists from onboarding to security assessments & due diligence to periodic supplier performance evaluations. Key features include:
- Automated workflow processes collect information from internal employees as well as external contacts (at the vendor or third-party),
- Drives the workflow for review and approval of this information,
- Enables categorization of the type and level of risk for each vendor or third-party,
- Automates ongoing controls and assessments to periodically measure and manage their performance and compliance.
- Create, assign, track and manage any action item or task related to a vendor or a third-party.
Obstacles to Effective Third Party Risk Management
- The role of third parties is critical, but businesses often have limited visibility into performance
- Lack of document management can result in accidental non-compliance
- Regulations have significantly increased requirements for the management of third-party compliance.
- Ensuring that the products and services provided by third-party service providers are safe and comply with applicable laws, regulations and standards is difficult
- Collecting all the information in spreadsheets and documents is an inefficient process
- Third party data is not available for trend analysis
Intelligent Third Party Monitoring and Resolution
Predict360’s advanced third-party reporting and dashboard capabilities providing visibility into the risk and status of every organization providing a product for, performing a service for, or performing work on behalf of your organization so you can effectively manage vendor compliance and risk exposure.
- Track the performance of all third parties in one easy to use system
- Store information of all related issues and problems
- Easily audit performance by viewing all historical problems and issues in just a few clicks
- Complete life cycle management – from on-boarding to service delivery
- Improve performance by providing third-party vendors with feedback
- Detect ongoing issues through trends and patterns to determine vendor risks
- Review or assess certificates of Insurance, checks, and due diligence documents of third parties
- Automated spreadsheets to keep track of all the different risks, screening and verification of all the questionnaires with on-boarding, OFAC checks, insurance verification and security assessments
360factors’ solutions, powered by artificial intelligence, enables our organization to adapt and respond effectively to the ever-changing regulatory compliance landscape
Joanna ChancellorBusiness Support Manager
The powerful features combined with the easy implementation of the cloud solution made Predict360 a great fit for our organization.
Steve ParkerChief Executive Officer
We believe our collaboration with 360factors and the technology they bring supports our vision for the future.
Gina AnonuevoChief Compliance Officer
Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organization.
Crystal BarnesRegulatory Compliance Specialist
