Third Party Management is a whole set of activities aimed at improving the knowledge and management of relationships with business partners. With the support of appropriate tools, it is possible to fully automate the process of counterparty verification. All of this is done in order to be able to avoid possible liquidity problems with relatively little effort, assess the risks associated with starting and continuing cooperation, and compare partners according to various criteria.
Our systems supporting Third Party Reporting enable:
- Completion of business partner information and analysis of all business partners in one place
- Analysis of the potential risks by level of risk
- Compare risk levels between business partners, track decision-making history in one digital place
- Use of questionnaires that clearly ask questions about business partners
- Comparison of business partners with sanction lists and other external sources of information
- Create one-click business partner verification reports
We match your needs!
We do not impose a due diligence approach – we support and reinforce it. Simply map an already developed programme directly into our solution. No more juggling multiple systems or losing key documents – everything flows through one intuitive tool.
Note: Thirst Party is one of the modules of the Compliance Cockpit platform, you can use it on its own or extend the functionality at any time, with other compliance tools your organisation needs!