RISK, PERFORMANCE and VALUE have typically been assessed in separate silos without the ability to correlate results in order to truly understand how our vendors are performing and whether they are helping us achieve our strategic objectives. Very often, the lack of a standardized framework results in conflicting subjective opinions rather than a documented fact-based assessment of contractual commitments and performance.
3rd Party Toolbox (3PT) transforms your 3rd party risk management program from a “Check-the-Box” Compliance requirement to an enterprise Value Strategy with an integrated 360 degree approach to managing and inter-relating Risk, Performance, and Value across your vendor inventory and within Categories.
3rd Party Toolbox (3PT) is the perfect enhancement for your current vendor management solution or can be used as a standalone solution. A customizable
cloud-based suite of risk and performance scorecards, 3PT modules can be licensed individually or as an integrated solution.