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Rapid Start Programme Get Started
  • Products
    • Contract Lifecycle Management
    • Customer-Supplier Relationship Management
    • Third Party Risk Management
    • DORA Regulations
    • Governance, Risk & Compliance (GRC)
    • Brooklyn ESGa+
    • Digital Assessment Frameworks
    • Integrations
  • Use Cases
    • Onboarding & Segmentation
    • Policy, Governance & Workload Orchestration
    • Performance, Scorecards & Reporting
    • SLA & KPI Processing
    • Contract & Obligation Management
    • Innovation, Issues, Change & Dispute Management
    • Structured Reviews & Action Tracking
    • Operational Risk Capture, Mitigation & Controls
    • Third Party Risk Management
    • Meeting Regulatory Compliance
    • Environmental, Social and Governance
    • Contract Assessments
  • Services
    • Services for Success
    • Professional Services
    • Rapid Start Programme
  • Resources
    • News & Insights
    • Resource Library
    • Upcoming Events
  • Company
    • About us
    • Partners
    • Meet The Team
    • Careers
Solutions

Third Party Risk Management (TPRM) - Supply Chain Data Insights

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Third Party Risk Management

Third Party Risk Management (TPRM) solutions are a category in their own right with a number of products on the market. However, in our view, TPRM is only 25% of the story and the challenges that exist need a wider set of capabilities initially to detect earlier than and singularly focused TPRM system. Then latterly have a comprehensive and integrated capability to be able to deal with any of the Risks found and deploy the associated controls to completely mitigate the problem from becoming a reality.

Third party data insights

Minimise Third Party Risk

The Head of Risk Managment and Risk Managers are often faced with unknown and unmanaged risks within the supply chain.

Risks can often be unknown and unmanged within the supply chain.
The front-line team lacks easy means to capture risk and they often receive poor and infrequent guidance on how to manage/mitigate risk.
The front-line team does not receive evidence of ongoing Control evidence.
Poor alignment with the Enterprise Risk Management policy, if this even exists.
No easy way to attach Actions to Risk Management.
Easy to “game the system” by inputting a status.
Survey fatigue on all sides.
Third Party Risk Management (TPRM) - Supply Chain Data Insights

Brooklyn Solutions

Fully digitalised risk management

Brooklyn allows for the Risk Management policy to be fully digitised, pushing the right activities at the right frequency for the particular supplier and contract(s). The central risk management team can propagate guidance on best practices, attached to Actions and relevant activities. Easy in-the-moment options allow the Head of  Risk Management to capture potential risks, for follow-up later, all tracked in one system.

The Brooklyn platform allows for playbooks specific to risk management to be processed in a lightweight workflow for risk assessment, mitigation, and monitoring. This system tracks firmographics and basic data flow, as well as, the ability to compose dynamic assessments and flows. An audit log of control measures can be applied to avoid risks when alerts are not done well enough or at all.

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Risk dashboard

Why us?

Brooklyn offers a solution for Third Party Risk Management by:

  • Make insights actionable from 3rd Party Data Sources.
  • Obligations taken to properly manage risk are never dropped or forgotten.
  • The rational and defensible perspective of Risk Health allows for effective governance measures.
  • Right-sized approach leveraging automation and transparency.
  • A clear audit trail of who accepted what risk and who took what actions.
  • Allows for fact-based discussions.
Risk register usecase

Want to learn more about how Brooklyn can you transform your Third Party Risk Management?

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Explore Brooklyn Solutions

01.
Brooklyn Contract

Fully digitise & automate contract onboarding at any scale, tuned to your industry needs.



Discover more
02.
Brooklyn Relationship

Brooklyn Relationship provides a process-based approach, driving operational best practices for managing vendor relationships.

Learn more

Deal Signed. Time to Deliver.

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