3rdRisk Specifications

Risk Assessment and Mitigation

Regulatory Compliance Tracking

Regulatory Change Monitoring and Impact Analysis

Incident and Issue Tracking

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What Is 3rdRisk?

3rdRisk is a cloud-based platform designed for risk, compliance, and security professionals across various industries, including finance, energy, and healthcare. It caters to organizations seeking enhanced control over third-party risks, internal governance, and regulatory compliance. The software streamlines collaboration between teams and external partners, offering a structured approach to managing risks and responsibilities at scale. By replacing fragmented spreadsheets and emails with a unified system, it reduces inefficiencies and improves transparency.

3rdRisk Pricing

The 3rdRisk cost ranges in the following four packages:

  • Overview: €490/month
  • Insight: Custom pricing
  • Manage: Custom cost
  • Optimise: Custom pricing
So, request a tailor-made cost estimate for the plan that best suits your requirements. Moreover, a free trial for 3rdRisk is also available on request.

Disclaimer: Prices are subject to change.

3rdRisk Integrations

3rdRisk seamlessly integrates with various applications, including:

Watch a free 3rdRisk demo to learn more about its integrations.

Who Is 3rdRisk For?

The software accommodates businesses of all sizes, supporting diverse use cases across various industries, including:

  • Energy
  • Financial Services
  • Healthcare
  • Logistics
  • Manufacturing
  • Retail

Is 3rdRisk Right For You?

Known for its flexibility and scalability, 3rdRisk is a strong choice for companies aiming to build a resilient risk culture while adapting to evolving business and regulatory demands. It streamlines risk-related workflows, supports smarter decision-making, and adapts well to organizational growth. Additionally, 3rdRisk promotes accountability and consistency across teams, making it easier to manage third-party obligations.

Still not sure about 3rdRisk? Contact our support team at (661) 384-7070 for personalized guidance.

3rdRisk Features

Users can eliminate scattered spreadsheets and disconnected tools by centralizing third-party risk information, such as questionnaires, contracts, and assessments, into a single, structured platform. This centralized approach enhances visibility and speeds up risk tracking across hundreds or thousands of suppliers.

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The software enables continuous monitoring of your third parties, delivering live updates on market events, security breaches, and regulatory changes. Timely alerts allow your team to respond swiftly and reduce exposure to emerging risks.

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3rdRisk provides a transparent system for defining responsibilities, allowing users to assign roles, tasks, and follow-ups to specific stakeholders. This feature ensures that everyone understands their duties, improving accountability and reducing the risk of task-related issues.

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The platform effortlessly generates comprehensive risk and compliance reports. Users can track performance metrics, compliance levels, and risk status with structured dashboards that support informed decision-making and simplify internal and external reporting.

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Users can leverage ready-made templates, such as frameworks, control sets, and surveys, built to international standards while the AI-powered document analyzer processes and summarizes supplier documents. This feature reduces manual effort and accelerates risk evaluation.

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Pros And Cons of 3rdRisk

Pros

  • Users laud 3rdRisk for its streamlined and intuitive interface

  • Robust integration capabilities with various tools like Jira, Slack, and MS Teams

  • Streamlines cross-team stakeholder engagement

  • Promotes transparency and accountability across teams

  • Centralized third-party risk data in one platform

Cons

  • Some basic functionality or customization may be missing

  • A few software users note that the platform could benefit from richer reporting visualizations

  • A smaller user base can slow peer learning or best practice sharing

3rdRisk Reviews

Total 10 reviews

4.6

All reviews are from verified customers

Rating Distribution

5

Stars

60%

4

Stars

40%

3

Stars

0%

2

Stars

0%

1

Stars

0%

Share your experience

A

Anonymous

Small-Business, 11-50 employees

5.0
March 2024

Excellent Third Party Management Tool

Pros

It's accessible and it gives me a solid overview for managing third parties. Managing vendors becomes much simpler since it connects seamlessly with MS Teams and pulls data from multiple sources automatically.

Cons

I wish more companies would adopt this system since it's so comprehensive and that's really my only complaint about it.

Rating Distribution

Ease of use

10

Value for money

10

Customer Support

8

Functionality

10

ND

Nathalie D.

Enterprise, 500+ employees

5.0
March 2024

Solid Control Features Available

Pros

I find this Internal Control tool incredibly helpful for managing our framework. The interface is interactive and user-friendly, making it simple to monitor control status. The workflow between different lines of defense functions seamlessly! The team behind it is genuinely friendly and responds quickly whenever we have questions or need custom development. They follow up on any issues promptly. We used to rely on email management but this gives us far better visibility and insight into our processes.

Cons

Sometimes development requests take longer than initially anticipated, which can be frustrating when you're waiting for specific features.

Rating Distribution

Ease of use

10

Value for money

8

Customer Support

9

Functionality

9

A

Anonymous

Enterprise, 500+ employees

4.0
February 2024

Flexible solution for complex workflows

Pros

I love how this tool takes complex workflows and makes them feel straightforward. Working with it is actually enjoyable and the intuitive design means everyone on the team can jump right in without a steep learning curve. Implementation was smooth and adoption happened quickly across the board.

Cons

Nothing significant comes to mind and I'm genuinely happy with this solution.

Rating Distribution

Ease of use

10

Value for money

8

Customer Support

8

Functionality

8

Frequently Asked Questions

Yes, 3rdRisk offers an API.

No, 3rdRisk currently doesn’t offer a mobile app.

The 3rdRisk price starts at €490/month for the Overview plan and custom quotes for the Manage, Optimise, and Insight plans. So, obtain a tailor-made cost estimate specific to your needs.

Typical users of 3rdRisk include risk managers, compliance officers, procurement and security teams, finance personnel, and operations staff across various industries, including finance, healthcare, energy, and retail.

3rdRisk integrates with MS Teams, MS Azure, Jira, Slack, and many others.

3rdRisk supports multiple languages, such as English and German.

3rdRisk provides support through email, phone, chat, FAQS, and a help center.