CSDR
3 challenges
CSDR
The Corporate Sustainability Reporting Directive (CSRD) requires companies to report on the impact of corporate activities on the environment and society, and requires the audit (assurance) of reported information. CSRD provides an opportunity for internal auditors to support their organizations by identifying risks, putting effective controls in place, and understanding the impact on your corporate reporting and sustainability strategies.
01.
Reporting complexity
The CSRD directive demands extensive and detailed sustainability reporting, which can be overwhelming for businesses to compile and manage.
02.
Sustainability strategy
The CSRD directive requires organisations to integrate sustainability into their core business strategies, which can be a complex transition.
03.
Compliance
Under CSRD, companies are not only responsible for their own sustainability practices but also for those of their third-party partners and suppliers
Our solution
An all-in-one risk platform, provided by 3rdRisk
Our 3rdRisk risk platform is tailored to help you master your ICT supply chain risks and comply with the Corporate Sustainability Reporting Directive (CSRD) with efficiency and ease
Risk management
A single integrated risk register for all internal risk disciplines
Record both internal and external risks. Associate risks with specific third-party entities, internal controls, or locations within your organization. Follow the ISO 31000 best-practice workflow, including risk identification, assessment, treatment, and monitoring. Utilize the interactive risk matrix to conveniently filter various risk categories and assign scores.
Third-party management
All your required information centralised and connected
Create a unified register to manage all your third-party relationships. Document multiple contracts per third-party entity. Categorize your landscape by assigning risk profiles, considering various risk domains like cybersecurity, sustainability, and compliance. Integrate with your procurement system to gather and enhance supplier data.
Compliance management
An complete overview on all your internal and external compliance requirements
Establish a single, integrated registry for both internal and external compliance needs. Utilize it to oversee compliance requirements for security, sustainability, privacy, legal matters, quality assurance, and more. Define the scope and applicability for each compliance requirement and connect them to one or more assessment questionnaires. Monitor compliance in real-time.
Assessment management
Third-party self-assessment activities automated
Merge various third-party assessment initiatives across all your risk and compliance areas. Consolidate questionnaires from diverse risk disciplines into a unified third-party assessment. Suppliers access a secure supplier portal to collaborate and submit evidence. Our AI-powered review module conducts an initial analysis.
Real-time monitoring
Receive immediate notifications regarding your third-parties and follow-up efficiently and effectively
Enable our pre-configured integrations with BitSight, SecurityScorecard, EcoVadis, Refinitiv, and various other platforms to gather security, sustainability, financial, or compliance risk ratings for your third-party entities, conveniently consolidated in one central overview. By this you are able to continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Read more.
Action plan management
Assign action plans to third-parties and and internal stakeholder track
Centralize remediation efforts for both internal teams and third-party entities in a unified repository for action plans. Allocate ownership using our platform and Microsoft Teams integration. Establish and modify timelines for each action item, with reminders sent through our platform, email, and Teams to ensure progress remains on schedule. Visual indicators provide status updates, facilitating easy oversight.
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Client Cases
Learn how client uses 3rdRisk to add value in their organisation.
Your return on investment
Thanks to automation, AI and smart workflows, 3rdRisk users save an average of 140 hours per 10 third-party assessments compared to traditional spreadsheet approaches. This quickly translates to a savings of 7 FTEs when more than 1000 assessments are sent out.
Design & Configure assessments
Response performance
Response rate
Review & assess assessment
Best-practices
In the Content Hub, we have best-practice content available for every industry and risk discipline, from sustainability and cybersecurity to continuity.
The SIG, short for “Standardized Information Gathering (Questionnaire)” is a third-party information security and privacy questionnaire.
Standardized Information Gathering (Questionnaire)
Help center
FAQ
In the overview on the side, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts. Our experts are always here to help you out.
with only a few hours per month our customers are able their normal due-diligence assessments workload, makings sure their professionals can focus on strategic tasks as our efficient and automated solution reduces the resources required for operation.
Managing third-party risks does not always demand extensive allocation of resources or time. With the advent of fit-for-purpose third-party risk tooling, the process can be streamlined, making it both efficient and less labor-intensive. By leveraging specialised third-party risk software solutions, organisations can automate the majority of the risk assessment and monitoring processes. If the company resources are limited, we can offer to help them with (temporarily) managed services, outsourcing the actual work
Managing third-party risks is a vital consideration for both large corporations and small to medium-sized enterprises (SMEs). Dismissing the need for vigilance in third-party relationships solely based on a company's size overlooks the intricate interconnections within today’s business environments. Moreover the increasing regulations on cybersecurity, supply chain and sustainability applies for all company sizes. SMEs, constrained by their typically limited resources, could encounter heightened risks stemming from third-party vulnerabilities. This is particularly true as they might lack the extensive internal controls and risk management structures found in larger enterprises. Explore further the rationale behind third-party risk management and how our technology can be utilized in this regard.
Numerous organizations are acknowledging the shortcomings of conventional spreadsheets in handling third-party risks. Despite their familiarity, these basic tools are proving insufficient for the intricate and ever-changing demands of third-party risk management. Spreadsheets lack the ability to deliver real-time insights, automate processes, and guarantee data accuracy and reliability. Furthermore, they necessitate substantial manual effort and are typically disliked by suppliers.
The platform can be implemented in day. You'll benefit from a quick setup, enabling your business to start leveraging the platform's capabilities in a very short time.
You have access to comprehensive support and guidance for a smooth setup and integration, ensuring optimal use of our platform.
Our solution integrates seamlessly into your existing system landscape, while making sure your workflows are uninterrupted and improved.
Our solution comes with pre-defined workflows designed to streamline processes and improve efficiency, and is supported by best practice content that helps businesses establish and improve their internal control and third-party risk management processes.
Without specific prior knowledge, you can quickly get acquainted with our platform as is user-friendly, and supported via interactive tours, training and an extensive knowledge base to ensure you can leverage its full capabilities
Your data is stored within European data centers, ensuring compliance with local laws and regulations, and contributing to your data sovereignty.
We are fully compliant with the General Data Protection Regulation (GDPR). We take data privacy and protection very seriously
We have a service level agreement in place to ensure we meet or exceed the expectations of our customers in terms of service availability and performance.
We offer our solution against competitive pricing that aligns with the quality and capabilities of our platform, ensuring you receive great value for your investment
Still have a question?
Our experts are always here to help you out.
More Insights, less work: Learn how De Bijenkorf. Efficiently manages supplier risk with 3rdRisk.
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