Vendor Risk Management Software

Why Use SafetyCulture?

Globally recognized for providing solutions that drive compliance and operational excellence, SafetyCulture now offers one of the best vendor risk management software to organizations that require better vendor oversight, reduced manual effort, and enhanced supplier performance. With the platform’s intuitive checklists, collaborative features, and real-time issue tracking, companies can better manage vendor risks, uphold accountability, and ensure adherence to government regulations and industry standards.

Features:

• Simplify compliance and risk evaluations for compliance with vendor risk assessment templates covering due diligence, progress tracking, and performance monitoring.

• Eliminate communication silos to improve teamwork by disseminating real-time critical information (e.g., new assignments, risks, regulations).

• Mitigate service interruption and financial losses by getting risk alerts and responding to issues promptly.

• Reveal high-risk vendors, spot emerging challenges, identify the root causes of issues, and make informed decisions with powerful analytics.

• Improve visibility and data accuracy by integrating various systems (e.g., Enterprise Resource Planning (ERP), Governance, Risk, and Compliance (GRC), Internet of Things (IoTs)) into the platform.

Why Use Gatekeeper?

A top-rated Vendor and Contract Lifecycle (VCLM) solution, Gatekeeper helps organizations streamline vendor onboarding, contract creation, approval workflows, and document management. Its focus on compliance enables companies to manage both commercial and risk-related aspects of third-party relationships.

Features:

• Diversified vendor portfolio

• Vendor processes automation

• Performance monitoring

Why Use SecurityScorecard?

One of the most reputable vendor risk management software today, SecurityScorecard offers tools to companies worried about cybersecurity threats that their suppliers and service providers may encounter. With continuous monitoring capabilities, parent companies can spot vulnerabilities before they are gravely impacted.

Features:

• Automatic vendor detection

• Vulnerability intelligence

• Security risk assessments and scoring

Why Use UpGuard?

Although it’s primarily known for being a cybersecurity risk management platform, UpGuard has robust capabilities for managing third-party relationships. Its VRM tools allow organizations to assess risks, monitor security postures, and receive alerts if the vendor’s security status changes.

Features:

• Constant vendor monitoring

• 360-degree risk assessments

• Security questionnaires with automatic reporting

Why Use ProcessUnity?

Built primarily for managing GRC processes, ProcessUnity has since become one of the most comprehensive VRM solutions in the market. With risk tracking, performance assessments, and pre-approved risk control applications, it’s the perfect tool for automating the entire vendor lifecycle.

Features:

• Vendor onboarding

• Pre-contract due diligence

• Risk domain screening

Why Use Predict360?

An AI-powered GRC-focused platform, Predict360 now offers VRM as one of its management modules. By automating risk assessments with scoring, issue tracking with incident management, and compliance audits, companies can effectively manage vendor-related regulatory threats and maintain operational resilience.

Features:

• Onboarding management

• Risk categorization

• Ongoing assessments and controls

Why Use Counself?

Primarily a legal and compliance risk platform, Counself works well as a VRM due to its compliance tracking capabilities, issue resolution features, and extensive vendor oversight. Companies can use this to ensure suppliers comply with their internal policies and regulatory standards.

Features:

• Intelligent forms

• Vendor profile

• Messaging and integration tools

Why Use SafeBase?

A security trust and transparency platform made for B2B relationships, SafeBase is focused on helping companies demonstrate their security posture to clients and partners. Although it’s not a traditional software used for managing vendor risks, it can be used to verify the security credentials of third–party suppliers by reviewing certifications, reports, and protocols.

Features:

• Vendor system logs and trust centers

• Risk profiles and categories

• Risk management and contingency planning

Why Use Scytale?

Developed to help companies achieve and maintain SOC 2 compliance, Scytale is a relatively effective solution for managing vendor risks. While it doesn’t have robust, stand-alone features for vendor onboarding, risk scoring, and continuous monitoring, it excels at evaluating and verifying security compliance.

Features:

• End-to-end compliance hub

• Seamless vendor risk tracking

• Key compliance framework support

Why Use Vanta?

Originally made for complying with standards like SOC 2, ISO 27001, Health Insurance Portability and Accountability Act (HIPAA), and General Data Protection Regulation (GDPR), Vanta now offers a VRM module to efficiently track vendor compliance, request risk assessments, and manage due diligence. By combining vendor-related workflow automation with major compliance processes, companies can maintain their third-party relationships better using this tool.

Features:

• Automatic vendor onboarding

• Risk assessment and scoring

• Vendor security information sourcing