Third-Party Risk Management Solution for High-Risk Industries
Streamline Compliance, Enhance Safety, and Strengthen Relationships
Effective TPRM goes beyond basic due diligence — it integrates continuous risk monitoring, stakeholder engagement, supplier performance tracking, and compliance management into a unified platform.
High-risk industries rely heavily on suppliers and contractors, often operating in hazardous environments or under stringent regulatory oversight. Failure to effectively manage third-party risks can lead to safety incidents, regulatory violations, financial loss, and reputational damage.
Key Features Buyers Should Look For in Third-Party Risk Management Software
Comprehensive Vendor Onboarding and Due Diligence
Automated workflows to capture essential risk information, compliance documents, and certifications upfront for new and existing suppliers.
Supplier Performance and Compliance Tracking
Monitors key supplier KPIs, contract compliance, certifications, and audit results to maintain accountability.
Stakeholder Engagement and Collaboration
Role-based access and communication tools foster collaboration between internal teams, vendors, and regulators for transparency.
Security and Data Privacy Controls
Ensures vendor data confidentiality with encryption, role-based access, and compliance with privacy laws.
Continuous Risk Monitoring
Real-time scanning of security, financial, reputational, and compliance risks with alerts on emerging threats or incidents linked to vendors.
Issue and Incident Management
Records and tracks vendor-related issues, non-conformances, or breaches with workflows to drive remediation and reporting.
Comprehensive Reporting and Dashboards
Customizable views provide insights into vendor risk profiles, compliance status, and operational performance.
Risk Scoring and Classification
Uses analytics and AI-driven risk models (e.g., Open FAIR™) to quantify and prioritize third-party risks for focused management.
Regulatory Compliance Management
Supports adherence to GDPR, HIPAA, SOC, ISO, and industry-specific regulations with automated tracking and audit-ready reports.
Integration Capabilities
Seamless connectivity with procurement, ERP, GRC, and cybersecurity platforms for holistic risk oversight.
IsoMetrix Third-Party Risk Management Solution
IsoMetrix Third-Party Risk Management Dashboard
Core Solution Features
Centralized vendor risk register
Map suppliers to sites/assets with automated due diligence, risk scoring, and tiered assessments for full supply chain visibility.
Golden Threads™ connectivity
Links third-party risks to incidents, audits, compliance obligations, and controls for end-to-end traceability and predictive insights.
Real-time monitoring & analytics
BI dashboards track vendor performance, ESG factors, and emerging risks with AI-driven alerts and remediation workflows.
Scalable workflows & mobile access
Configurable assessments, CAPA assignments, and field verifications integrate seamlessly with EHS/ERM for rapid response.
IsoMetrix Third-Party Risk Management Solution Overview
01
Vendor sprawl and visibility gaps: Managing hundreds of suppliers across tiers with manual assessments, spreadsheets, and siloed data leads to blind spots in fourth-party risks and supply chain disruptions.
02
Inefficient risk prioritization: Static questionnaires and compliance checklists fail to quantify true risks, delaying decisions and exposing operations to cyber, ESG, safety, or regulatory threats.
03
Fragmented monitoring: Lack of continuous oversight on vendor performance, changes, and incidents hinders timely remediation and regulatory reporting.
04
Integration silos: TPRM tools don’t connect with EHS, compliance, or ERM systems, creating inconsistent evaluations and missed opportunities for holistic risk control.
Why Choose IsoMetrix for Third-Party Risk Management
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Contractor & Stakeholder Management Solutions for High-Risk Industries
In industries such as construction, mining, oil & gas, and energy, managing contractors and stakeholders is fundamental to operational safety, compliance, and project success. Contractors often represent a majority of the workforce on-site, presenting unique compliance, training, and safety challenges.
