DOWNLOAD RFP
Main menu
Customers

Third-Party Management
Advanced

Automate your third-party risk management program with a custom-configured solution.

Often selected for large, complex, and international programs, Aravo for Third-Party Management Advanced is a premium option for organizations that have unique needs that require a custom data model. This option provides access to all of the functionality and capabilities of Aravo’s highly robust and configurable technology applications and platform deployed to your specifications.

Organizations that choose Aravo for Third-Party Management Advanced work with an Aravo consultant to determine the scope of the project based on the unique requirements, goals, timeline, and budget. A dedicated Aravo Professional Services Team is engaged to work with you on an appropriate implementation plan to ensure your success.

Leverage a flexible technology platform to design your third-party risk management program

Third-Party Risk Management - GRC Software Features Screenshot
Request a new third-party relationship
  • Avoid duplicate or redundant vendors from being entered into the system.
  • Identify whether the relationship manager or the third party will complete the dynamic online survey.
  • Launch the automated process that streamlines assessment and onboarding.
Automate inherent risk assessments
  • Score and tier your third parties based on responses to a dynamic, online survey.
  • Reduce the burden on respondents with surveys that leverage business logic to avoid unnecessary questions.
  • Screen for multiple risk types with pre-configured surveys that distill Aravo’s unmatched third-party risk expertise.
Facilitate and document review by a risk expert(s)
  • Support risk expert decision-making by presenting completed assessments along with risk scores and other data for medium/high risk third parties.
  • Capture the risk expert’s decision, comments, attestation, and confirmation of code of conduct.
  • Create a robust audit trail of adherence to appropriate risk controls.
Conduct enhanced due diligence as needed
Streamline onboarding across functional areas
  • Gather third-party data needed to complete the overall onboarding process (e.g. banking data, insurance verification, certifications).
  • Centralize data collection for a smoother onboarding experience.
  • Prevent onboarding delays cause by missed documentation or lack of coordination.
Manage the ongoing relationship life cycle
  • Assess and report on risks associated with specific engagements to ensure third parties meet expectations.
  • Track issues and corrective actions to mitigate risk.
  • Monitor, edit, and off-board third parties for ongoing data integrity within a system of record.

Your Program

Benefits

With Aravo for Third-Party Management Advanced, you can tailor your Aravo solution to meet the requirements of your unique risk control framework

Robust workflow and data management

Create complex business process flows leveraging the data in your system to enforce policies and procedures.

Configuration, not customization

Reduces operational burden with automated processes, saving time and resources.

Deep domain expertise

Real-time reporting, role-based dashboards, and complete auditability to demonstrate compliance to management, board, and auditors.

Flexible reporting and dashboards

Robust data management and business process workflow deliver visibility and adherence to policies.

Third-Party Risk Management Aligned to Your Program Maturity

Third Party Management Express Tier

Express

Ideal for organizations that are currently using manual processes (spreadsheets, emails, checklists) to manage, track, and report on third-party risk and those that are implementing a brand-new program with a modest team.

Third Party Management Standard Tier

Standard

Ideal for organizations that have an emerging or defined third-party risk framework and want to take a consistent, holistic approach to risk-based third-party due diligence by leveraging business process automation.

Third Party Management Advanced Tier

Advanced

Often selected for large, complex, and international programs, this level is suited for organizations that require a bespoke TPRM solution based on a custom data model that can include new entities and custom associations.

Market-Leading
Software from Aravo

Aravo has the market’s most comprehensive set of capabilities for managing third-party, vendor, and supplier risk and performance

A LEADER

Logo - The 2020 Gartner Magic Quadrant for IT Vendor Risk Management Tools

Aravo Named a Leader in the 2021 Gartner® Magic Quadrant™ for IT Vendor Risk Management Tools

A LEADER

Logo - The Forrester Wave™: Third-Party Risk Management Platforms, Q4 2020

The Forrester Wave™: Third-Party Risk Management Platforms, Q4 2020

A LEADER

Logo - The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020

The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020

A LEADER

Logo - Chartis RiskTech Quadrant® for Third-Party Risk Management Systems 2019

Chartis RiskTech Quadrant® for Third-Party Risk Management Systems 2021

Customer Insights

Decorative Quote Icon

A highly customizable and versatile system

“Aravo is an excellent tool for managing end to end processes, with tailored workflows, emails and chase cycles built in to the automated system capability. Aravo’s strength for me lies in its traceability and high level of automation. Aravo is a highly customizable and versatile system.”

– Social Accountability Manager,
Global Manufacturing Firm

Decorative Quote Icon

Aravo’s technical team is very professional and supportive

“Best fit for our requirements, transparent and capability to handle greater volume of requests with ease. Aravo technical team is very professional and supportive.”

– Process Lead,
Financial Services Firm

Decorative Quote Icon

Aravo are a great company with a great product which has served us well

“We have used Aravo for eight years now, and it has been a backbone of our supplier information and compliance processes. Aravo themselves are excellent to work with and have been highly supportive and understanding of our business goals.”

Lead IT SME,
Program and Portfolio Management,
Manufacturing Company

Capabilities To
Support Third-Party Management

Capabilities - Risk Management Lifecycle
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.

Our Expertise
Expertise
Who We Help
Customers

Ready to get started?

Schedule a Personalized Demo