Third-Party Risk
Standardize vendor due diligence, centralize assessments, and monitor ongoing risk exposure to ensure supplier reliability and compliance.
Solution Overview
The Third-Party Risk solution provides a centralized approach to managing vendor, partner, and supplier risk.It standardizes the entire lifecycle — from onboarding and due diligence to performance monitoring and remediation — ensuring that third-party relationships meet regulatory, security, and operational expectations.
SmartSuite allows organizations to automate vendor questionnaires, collect documentation, and monitor ongoing compliance. Each vendor’s risk profile is automatically updated as new assessments, incidents, or control results occur.
This solution aligns with frameworks such as NIST, ISO 27036, SOC 2, and the CRI Profile, ensuring a consistent, auditable, and connected view of third-party risk across the enterprise.
Core Capabilities
SmartSuite’s Third-Party Risk solution provides the tools needed to standardize vendor management and ensure continuous oversight throughout the relationship lifecycle.Each capability works in harmony with other SmartSuite GRC modules, creating a unified vendor governance framework.
Vendor Risk Register
Maintain a comprehensive inventory of vendors and their associated risk ratings, control mappings, and assessment history.Image: Table view of vendor list with risk scores and compliance status.
Due Diligence Assessments
Automate onboarding questionnaires and evidence collection using configurable templates.Image: SmartSuite Form Builder showing custom vendor questionnaire.
Ongoing Monitoring
Track vendor performance, incidents, and compliance metrics over time.Image: Dashboard chart trending vendor risk ratings over 12 months.
Risk Scoring & Categorization
Automatically calculate and update inherent and residual risk scores.
Issue & Remediation Tracking
Log findings, assign owners, and verify resolution.
Integration with Vendor Portal
Allow vendors to securely submit responses and documentation via a branded SmartSuite portal.
Third-Party Relationship Mapping
Link vendors to associated risks, controls, and incidents for transparency.
Reporting & Dashboards
Visualize vendor risk exposure, trends, and remediation progress in real time.
The Risk Lifecycle
SmartSuite supports every stage of the third-party risk lifecycle — from identifying vendors to continuous monitoring and reporting.
Each step can be automated and configured to align with internal policies or external frameworks.
Identify Vendors
Capture vendor information and establish classification criteria.
Assess Risks
Conduct onboarding and periodic due diligence assessments.Visual: Assessment form or matrix.
Mitigate & Monitor
Track controls, incidents, and remediation actions.
Review & Update
Re-score vendor risk based on performance and compliance.
Report
Share dashboards and summaries with procurement, security, and compliance teams.Visual: Example “Vendor Risk Summary” dashboard.
Who Uses This Solution
The Third-Party Risk solution supports procurement, risk, compliance, and security teams — giving each role a unified view of vendor risk, performance, and accountability.
Oversees all vendor assessments, remediation, and reporting.
Manages supplier onboarding and renewals with risk visibility.
Plans and oversees assessment campaigns.
Monitors vendor cybersecurity posture and incidents.
Tracks performance and ensures accountability for assigned vendors.
Connected GRC Ecosystem
SmartSuite solutions form a unified GRC architecture. ERM connects with related solutions to synchronize data, workflows, and reporting.
Artificial Intelligence
SmartSuite's AI generates insights, summarizes complex results, and predicts risks within existing workflows to support proactive decisions.
Detect patterns across registers, incidents, and control failures; generate mitigation recommendations.
Automations
Use SmartSuite's no-code engine to eliminate repetitive tasks and ensure accountability across risk operations.
Detect patterns across registers, incidents, and control failures; generate mitigation recommendations.
Integrations
Integrate with the tools your teams use every day. Keep controls, incidents, and risk data in sync through prebuilt connectors and open APIs.
Detect patterns across registers, incidents, and control failures; generate mitigation recommendations.
Frequently Asked Questions
Answers to common questions about SmartSuite’s pricing models, plan options, and onboarding programs.
SmartSuite offers four plan types: Team, Pro, Enterprise, and Signature.
- Team, Pro, and Enterprise Plans use a per-user pricing model with feature and usage limits designed to scale as your organization grows.
- Signature Plan provides per-solution pricing for enterprises that need to license specific SmartSuite Solutions — such as GRC, ITSM, or Procurement — for large user populations with advanced governance and support requirements.
You can start by filling out the partner program registration form here.
By signing up to the Service Provider Partner Program you agree to our terms and conditions.
There is no cost. However, there are additional eligibility requirements to join.
First, you must be a customer of SmartSuite to be eligible to participate in the Service Provider Partner program. We believe it is important for all of our partners to be active SmartSuite users (minimum 5 active account members). It’s difficult to recommend a SaaS product that you do not see value in using yourself!
Additionally, you must have 15+ employees and $1.5M in annual revenue to join our network of solution partners.
You will be able to work leads through your sales process to a closed-won or closed-lost state.
You will be able to work leads through your sales process to a closed-won or closed-lost state.
Discover the Power of Connected GRC
Break down silos, improve collaboration, and streamline compliance. SmartSuite helps GRC teams achieve more — with integrated data, automation, and a shared source of truth across the organization.