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Third-Party Management
Standard

Manage the end-to-end third-party relationship life cycle to mitigate risk

Ideal for organizations that currently have an emerging or defined third-party risk framework and want to take a consistent, holistic approach to risk-based due diligence, Aravo for Third-Party Management Standard is a ready-to-use SaaS application. Quickly launch a program with best-practice pre-configured assessments, robust business process automation and artificial intelligence, and cross-functional data management.  All built in alignment with regulatory guidance and international standards as well as Aravo’s experience delivering third-party risk management solutions to some of the world’s largest brands.

Unlike other solutions, Aravo can seamlessly scale and evolve as your program grows and develops because it’s built on our single technology platform. In a matter of days, you can implement configuration changes or implement one or more of Aravo’s pre-configured solutions for infosecdata privacyanti-bribery/corruptionfinancial services risk assessment, or supply chain resilience, or leverage the pre-built workflow to deploy an assessment tailored to your unique needs.

Confidently stand up your best-practice third-party risk management solution

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
  • Leverage artificial intelligence and machine learning for decision support in adding, editing, re-onboarding, and re-instating third parties.
  • Score and tier your third parties based on responses to a dynamic, online survey.
  • 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
  • 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 Express, you can make mitigate risks by making better decisions about third-party relationships

Achieve a single version of the truth

Delivers a standardized and centralized process for managing all your third parties to cut through data and business silos.

Drive efficiency and reduce costs

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

Deliver confidence in your program

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

Future-proof your TPM product strategy

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

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Best fit for our requirements

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

– Process Lead,
Financial Services Firm

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A great support team

“A great support team makes a wonderful product and gives [the] best services, fully satisfied with the product. Simple interface and easy integration.”

– Assistant Manager,
Services Industry

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Intuitive user interface

“Aravo provides an intuitive user interface as well as a solid user experience.”

Strategic Sourcing Manager, Services Industry

Our Expertise
Expertise
Who We Help
Customers

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