Beaconer Vs Venminder – Which is the Best Third Party Risk Management Tool?

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An In Depth Look at Beaconer

The comprehensive, high-tech solutions offered by Beaconer revolutionize third party risk management. The TPRM software offers unparalleled insight, efficiency, and scalability guaranteeing a speedy return on investment and data-driven decision making. As part of Beaconer’s managed services, CISSP-certified assessors do in-depth reviews, AI-driven data collection, and automated vendor risk assessments.

The Information Hub expedites vendor collaboration and assessment requests, while the Customer Dashboard of the platform provides comprehensive monitoring and real-time updates. With its end-to-end methodology, Beaconer lowers risks, expedites compliance, and enhances vendor control—from smooth onboarding to ongoing support and monitoring. 

Top Features Offered by Beaconer

In this section, we’ll go through the top features offered by Beaconer that help organizations manage both their third as well as fourth party risk – 

1. Seamless Onboarding – Your needs are taken into account during the onboarding process, which guarantees a seamless transition and a careful examination of all current documentation to improve your security posture.
2. Continuous Monitoring – Real-time monitoring of third parties’ activities, guaranteeing the early identification and mitigation of developing threats. This even aids in identifying risks from outside vendors that pose a fourth party risk.
3. Customizable Dashboard – Complete visibility over vendor risk assessments, remediation efforts, and real-time updates are all available in one convenient spot thanks to Beaconer’s user-friendly and customizable dashboard. 
4. Real-Time Risk Scanning – Because of the real-time integration of threat data, attack surface monitoring, and the Darkweb, the vendors are constantly monitored and their security posture is evaluated.
5. Holistic Risk Management – End-to-end risk management, which includes gap identification and focused mitigation to guarantee compliance and security, from the first assessment to continuing assistance. In fact, this helps address fourth party risk.
6. Compliance Management – Strong compliance management features are provided by Beaconer’s TPRM solution to guarantee adherence to legal requirements and industry standards.
7. Remediation – The only TPRM software offering comprehensive remediation services is Beaconer. Any holes found during the assessment will be filled by Beaconer, totally eliminating your work.
8. Ongoing Monitoring & Support – Take advantage of ongoing assistance during the remediation phase and frequent updates via the Beaconer dashboard, which keeps you updated on all assessment-related actions.

Why Do Businesses Choose Beaconer as the Best TPRM Software?

Reducing business disruptions, Beaconer delivers thorough answers in 1-6 days, ten times faster than traditional techniques. It guarantees outstanding client experiences at 70% lower costs and five times quicker. Unlike most other TPRM software, this program provides comprehensive TPRM solutions for a variety of industries, including Manufacturing, Finance, Healthcare, Retail, Legal, etc. 

Beaconer oversees the full process of suppliers’ periodic reassessments on your behalf, working with a group of subject matter experts. At predefined intervals, it also monitors and starts reassessments. For this reason, Beaconer is one of the best TRPM apps out there. 

Conclusion

Organizations must use third party risk management to protect themselves from cyberattacks originating from their vendor connections. Organizations may analyze, mitigate, and manage third party risks more effectively by using a third party risk management platform, which provides complete visibility, automation, and continuous monitoring capabilities.

Venminder and Beaconer are two of the greatest vendor risk management options available, as was previously said. While both are excellent, Beaconer has an advantage due to its accessibility, fast rehabilitation and assessment, and widespread use in various industries. You should definitely look into Beaconer if you manage a business and want to protect it from hazards associated with using third-party vendors.