New Onspring TPRM software solution helps clients adopt risk-based decision making

Onspring, a leading no-code SaaS GRC automation software, is debuting Onspring Third-Party Risk Management (TPRM), a comprehensive and agile set of features designed to secure third-party business relationships throughout their lifecycles. Promoting effective onboarding, assessment, analysis, and response workflows, Onspring TPRM delivers third-party intelligence that empowers business leaders to adopt risk-based decision making.

Onspring TPRM helps to facilitate safe, secure, and efficient interactions with third parties, paired with a personalized workspace for third-party entities to respond to information requests, tasks, and assigned assessment activities. Throughout these interactions, Onspring TPRM analyzes, captures, and continuously monitors critical risk data, further managed and safeguarded in a single location. This allows business and IT professionals to understand where potential threats are from third- and fourth-party vendors, surfacing key vulnerabilities and potential threats, according to Onspring.

“Organizations today are increasingly concerned by the potential threat of a cyber event—and with good reason. Twenty percent of cyber breaches today are caused by a third-party vendor. With Onspring Third-Party Risk Management (TPRM), organizations can prioritize resources based on risk while offering a collaborative and transparent experience for their vendors,” said Brett Sommers, director of GRC products, Onspring. “With Onspring TPRM, we are arming clients with a much-needed and necessary tool they’ve been seeking. This latest innovation empowers them to establish a more robust TPRM program in even the most stringently regulated environments—now and for years to come.”

Onspring TPRM empowers enterprises to determine who the riskiest partners are and where their company information is most vulnerable, offering the following capabilities:

• Identification: Documents third-party profiles and engagements, surfaces relevant risk domains, and organizes engagements into relevant risk tiers that adhere to pre-defined due diligence requirements.
• Analysis: Discovers and vets third parties, reviews automated workflows, and identifies in-scope risk domains with a scalable risk questionnaire.
• Assessment: Evaluates concerned areas’ control posture based on the risk profile of the client relationship.
• Continuous monitoring: Offers ongoing monitoring and engagement, enforcement of a recurring assessment schedule, surveys performance periodically, and monitors security rating service.
• Better adoption: Delivers a tailored, configured approach for each client through pre-configured questionnaires, rules, and reassessment based on response for an effortless, secure user experience.

To learn more about Onspring TPRM, please visit https://onspring.com/.