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Assessing Your Third Parties’ COVID-19 Readiness Without a Subscription

March 23rd, 2020

Aravo Solutions was founded with the purpose of helping people around the world defeat some of society’s greatest challenges, but none of those challenges in our 20-year history has been quite like the current COVID-19 pandemic. Third-party risk professionals have always had an acute appreciation for the global interdependency of the business ecosystem, and we soon learned that our customers had quickly responded to the crisis by using Aravo to reach out to their third parties to assess their preparedness for the spread of the novel Coronavirus and how that might impact their operations.

As the crisis unfolded, we thought about customers who didn’t have the internal expertise or resources to configure Questionnaires for this rapid-response situation. Guided by our commitment to partnership with our customers and supporting them through this challenging time, we built a standardized COVID-19 Business Impact Assessment and offered it to all of our clients at no charge.

Alarmingly, one of the things we know from our industry research is that roughly half of organizations are still using spreadsheets and emails as a third-party risk management solution. Realizing that there are many organizations that don’t have an agile way to launch a pandemic-related business impact assessment to protect their businesses, our team quickly set to work on building a rapidly deployed, standalone solution inspired by the assessment we offer to our current clients.

In thinking about how to go to market with a COVID-19 product during this time of uncertainty and unease, Aravo leadership believes that this is the most important time to act in accordance with our core values, including the value of generosity. That’s why we made the decision to waive the subscription cost for the Aravo COVID-19 Business Impact Assessment for everyone.  Our highest priority is to provide the market with the right solutions and support as we all work together through this challenging time.

What’s Included

Aravo’s COVID-19 Business Impact Assessment is an ultra-light version of Aravo for Third-Party Management Express that has been purpose-built to provide a stable, secure, and efficient alternative to juggling spreadsheets and manually tracking and reporting on responses. The rapidly deployed application allows organizations to:

  • Upload third-party and supplier details into a centralized system
  • Activate a pre-defined COVID-19 impact assessment to third-parties from a secure environment
  • Automate processes associated with collecting the assessments, including pre-configured emails, notifications, and reminders
  • Assess and monitor third parties’ response readiness and potential risk impact to business operations through included reporting

How to Access Your Free Subscription

Aravo plans to support the COVID-19 Business Impact Assessment for as long as it’s needed with no subscription fees now or ever, and there is no obligation to purchase additional software.

Though purpose-built for rapid deployment with minimal support, Aravo COVID-19 Business Impact Assessment requires some setup and basic familiarization for maximum effectiveness.  We recognize it will be a new system that users won’t be familiar with, yet will want to get up to speed with very quickly. Our commitment is to support business with their set up and use and as such there will be a small one-time setup fee to enable our services team to provide the appropriate level of customer support in loading data, software familiarization, program activation and continued support.

If your organization could benefit from a secure, centralized system for understanding potential third-party exposure related to COVID-19, please contact us at c19response@aravo.com. Our consultants will provide you with additional information on Aravo COVID-19 Business Impact Assessment and how to request your complimentary subscription.

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