May 22, 2019

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SureCloud Introduces Latest Third Party Risk Management Application

Wednesday 13 February 2019

SureCloud, a supplier of Cloud-based Governance, Risk, and Compliance (GRC) solutions and Cybersecurity services, has released the latest version of its Third Party Risk Manager application, featuring a range of enhancements to help users gain a holistic view of their business’ third parties and the risks they may pose, making risk management easier and more efficient than ever before.

SureCloud’s Third Party Risk Manager application dramatically improves the overall efficiency, accuracy and visibility of risk management and mitigation measures. The latest version features a new, clean design and layout that helps organizations understand and report on risks in a way that is easy to follow and respond to. It is highly flexible, enabling users to stay organized with fully customizable risk ratings, configurable assessment types and categories. It also features a range of flexible new options in the application’s question library, ensuring that third parties only answer the questions which are relevant to their organization.

With SureCloud’s latest Third-Party Risk Management solution, users can now:
- Oversee all risk assessment statuses in real-time, prioritised by importance to the business
- Build and automatically send multiple assessment types simultaneously
- Fully adjust the question library where users can define their own content to send at any time
- Extract assessments to Microsoft Word for easy reporting
- Extract questionnaires to Microsoft Excel to work offline and import to update when back online

SureCloud’s GRC Practice Director, Alex Hollis commented: “More organizations than ever are establishing third-party assurance programs, and as a result the need to manage these programs as cost effectively and efficiently as possible is becoming paramount. This new release of our Third Party Risk Manager solution provides a quicker return on investment and increased levels of automation, meaning that users can spend more time analysing and utilizing their results, and less time on administration.”

Risk Manager replaces ad-hoc, manual spreadsheet-based risk management processes, and makes it easy to harmonise processes across business units for identifying and managing all types of internal and external risks, including market, operational, project, legal, IT, financial and reputational risks.

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