REQUEST A DEMO

Stand up a best practice third-party risk management program quickly, cost effectively, and confidently.

Aravo for third-party risk management is a software-as-a-service application that allows you to understand, manage, and mitigate the risks posed by your third-party vendors and their engagements.

With Aravo you can maintain a single inventory of all your third-party relationships and automate risk assessments, scoring, due diligence, continuous monitoring, issue management, and corrective action processes.

Built on technology designed for usability, agility, and scale, even the most complex organizations can keep pace with the high velocity of regulatory change and achieve a complete view of their third-party ecosystem throughout the life cycle of the relationship.

Request details

Automate every step of your third-party risk management program

Third Party Risk Management
Centralize all your third parties, and their engagements into a single inventory
  • Deliver a standardized process for registering new third parties and initiating new engagements.
  • Gather relevant documents, certifications, policies, and data.
  • Gain a single source of truth about vendors and their engagements.
Understand and manage the risk associated with third parties and their engagements
  • Automated inherent third-party risk assessment/vendor risk assessment.
  • Segment third parties by criticality and inherent risk score.
  • Determine the level of exposure to your organization across multiple risk domains.
  • Be alerted to changes in risk and compliance posture for issue management and remedial action.
Conduct risk-based third-party due diligence
  • Automatically send scoped due diligence assessments based on engagement.
  • Screen and validate third-party information.
  • Ongoing monitoring for changes in risk profile to trigger remedial action.
Actively manage risk and performance
  • Identify and report issues.
  • Ensure SLAs and KPIs are monitored and met.
  • Initiate action plans for remediation.
  • Involve cross functional teams and the third party in the issue resolution process.
Report and monitor with complete visibility
  • Real-time reporting and analytics.
  • Role-based dashboards – dynamically drill into any detail.
  • Full audit trail across the entire third-party risk management process.
Integrate into your wider ecosystem
  • Able to integrate into your internal business systems including ERP, AP, GRC, and ERM systems.
  • Integrates with a broad range of content partners for validation, due-diligence, and continuous monitoring.

Leading vendor risk management software from Aravo

Aravo is a recognized industry leader for supplier risk and performance software and third-party risk management software applications. We are noted for our domain expertise and record of innovation in this space. Our acknowledgements and awards include:

Third Party Risk Management Program and Business Benefits

With Aravo, you get better strategic results from your vendor risk management program and your third-party relationships. Benefits include:

Capabilities To
Support Third-Party Management

Intake and Scoping

Apply a standardized and defensible process for collecting, centralizing, and validating your third-party vendor information.

Due Diligence

Ensure an objective, risk-based approach to third-party due diligence.

Onboarding

Deliver a consistent, automated process complete with a fully accessible audit trail. All your vendor information and documentation is in one place.

Contracts Management

Create a centralized repository of all vendor contract information and automate contract monitoring, review, and management processes.

Continuous Monitoring

Continuously monitor vendor risk and performance and trigger review, escalation, issue management, and remediation activity.

Performance Management

Monitor third-party vendor performance, strengthen preferred supplier relationships, drive innovation, and eliminate poor performers.

Issue Management and Remediation

Enable a systemic and consistent approach to issue management and identify, track, and manage third-party vendor issues from initiation through to resolution.

Termination and Offboarding

Ensure that the separation process is handled appropriately, including return of property and system access, assurance of data destruction, and notification to finance to cease payments.

Optimize your Program and Reach Third-Party Management Agility

Program Maturity Calculator
Programs evolve, business conditions change, new risks emerge, and regulations change. Regardless of where you are in your third-party risk program maturity journey, our solutions and deep domain expertise will help you accelerate, optimize and become more agile. No matter how fast the world changes around you, you will be able to deliver better business outcomes faster and be able to adapt as your programs evolve.

Guidance, Regulations
and Standards

Regulations
Today, there is a maze of regulations, laws, and standards that companies need consider as part of their compliance programs and to support industry best practice operations and conduct.
OCC Bulletin 2013-29
Sarbanes-Oxley Act
Payment Card Industry Data Security
Foreign Corrupt Practices Act of 1977
UK Bribery Act of 2010
ISO 37001:2016 Anti-bribery management systems
The California Transparency in Supply Chains Act
UK Modern Slavery Act
Clean Air Act of 1963
EU General Data Protection Regulation (GDPR)
The California Consumer Privacy Act of 2018 (CCPA)
UK Health & Safety at Work etc. Act of 1974
International Traffic in Arms Regulations (ITAR)
SYSC 13.9 Outsourcing
MAS - Guidelines On Outsourcing (issued 2016)
Guidance for Managing Third-Party Risk / FIL-22-2008
FFIEC IT Examination Handbook: Vendor and Third-Party Management
FED SR 13-19 / CA 13-21: Guidance on Managing Outsourcing Risk

Most organizations lack a single source of truth about third-party and supplier relationships. Manual processes increase risk, stifle innovation, and mean you will struggle to keep pace with evolving strategic and regulatory requirements.

With greater scrutiny from regulators, boards of directors, and investors, it’s time for lines of business and procurement, compliance, risk and information security leaders to come together to change the way that their organizations manage their third-party relationships.

Request details

What We Do

Aravo delivers award-winning, market-leading cloud-based solutions for managing third-party governance, risk, compliance, and performance.

Third-Party Risk Management Supplier Risk and Performance Management Vendor Risk Management Contractor Risk Management
Our Expertise
Expertise
Who We Help
Customers
Ready to find out more?
Contact us
This website stores cookies on your computer. These cookies are used to improve your website experience and provide more personalised services to you. To find out more about the cookies we use, see our Privacy Policy.
Accept
Close