Third Party Management

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!

See what you gain?

Easy control and fast implementation. Add new external entities in minutes and take them quickly through the process from application to approval.

Global risk management with consistent standards. Use standardised processes across the organisation, adapting them to local requirements and regulations.

Risk assessment and prioritisation. Evaluate and assign third parties based on compliance criteria and self-assessment results. This makes it easy to identify suppliers that require more detailed investigation.

Document and policy management. Centralise all relevant third-party documentation, contracts and compliance certifications on a single platform. Monitor risk mitigation activities and set reminders for audits or certifications to ensure ongoing compliance.

Transparent collaboration and full audit trail. Track all interactions and audit records with third parties. Collaborate effectively with internal and external stakeholders, building transparency and accountability. Create compliance reports for audit and regulatory purposes, and with flexible export options, processing becomes incredibly easy.

If you need more information on the topic of Third Party Management, please contact us via email at info@cogit.pl or call us at +48 22 496 60 00.