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Beaconer offers unparalleled efficiency with our extensive database, enabling us to complete third party risk assessments within just 2 days of your request. We provide tailored assessments customized to your specific requirements, ensuring vendors are evaluated according to the precise scope of work. Our service includes effortless remediation, where we handle the entire process of third party risk management eliminating the need for you to chase vendors. With our managed vendor coordination, we take over the task of obtaining responses, saving you weeks of back-and-forth communication. Additionally, Beaconer ensures control over your periodic reassessment process by automatically tracking, triggering, and managing the completion of reassessments on your behalf.

Third party cyber risk assessment services provide a range of advantages, such as boosting security by pinpointing and addressing vulnerabilities from external vendors. They also ensure compliance with regulations, refine risk management strategies, and build trust while bolstering reputations. Moreover, they streamline operations, allowing for quick resolution of issues and saving costs linked to data breaches. These assessments also enforce accountability among vendors for meeting security standards, encourage ongoing improvement in cybersecurity, motivate them to use robust TPRM software and contribute to maintaining business continuity by fortifying the resilience of third party partnerships.

Our third party risk management services can benefit organisations in a variety of industries, but it is particularly well-suited for those that rely heavily on third party vendors, suppliers, contractors, and service providers. These industries include:

• Banking:  Banks are required to comply with a wide range of regulations, and our AI technology can help them to identify and mitigate risks associated with third party vendors.
• Capital markets:  Financial institutions in the capital markets rely on third party vendors to provide a variety of services, and our AI technology can help them to ensure that these vendors are meeting their security and compliance requirements.
• Communication, Media & Technology:   Companies in this sector often work with third party vendors to develop and deploy new products and services. Our AI technology can help them to ensure that these vendors are not introducing security or compliance risks.
• Healthcare:   Healthcare organisations rely on third party vendors to provide a variety of services, including IT support, data management, and patient care. Our healthcare vendor risk management clubbed with AI technology can help them to ensure that these vendors are protecting patient data and complying with HIPAA regulations.
• Information Services:   Companies in this sector provide a variety of services to other businesses, including data processing, cloud computing, and IT consulting. Our AI technology can help them to identify and mitigate risks associated with their third party vendors.
• Life Sciences:   Life sciences companies often work with third party vendors to develop and manufacture new drugs and medical devices. Our AI technology can help them to ensure that these vendors are meeting their quality and safety standards.

In addition to these industries, our TPRM managed services can also be beneficial for organisations in other sectors, such as retail, manufacturing, and government.

Third party risk assessment involves the systematic approach of identifying, assessing, and mitigating the risks that arise from an organisation’s interactions with external entities. These entities can include suppliers, contractors, cloud service providers, consultants, and any other entity that conducts business with or on behalf of the organisation. Third party risk assessment evaluates and manages potential cybersecurity risks associated with these external parties’ activities, systems, processes, and data.

You can book the demo by clicking on the link https://calendly.com/contactbeaconer/30min

Identifying third party risks involves conducting comprehensive third party cyber risk assessment, evaluating vendor security practices, assessing compliance with regulations, and analysing potential vulnerabilities in supply chains. Third party risk governance includes reviewing contracts, conducting audits, monitoring security performance, and staying vigilant for emerging threats to mitigate risks effectively.