Third Party Network – UK and Europe

A Comprehensive, Collaborative TPRM Program. Save Time, Money and Accelerate Assessments.

A Comprehensive Approach to managing Third Party Risk

DVV Solutions, Shared Assessments and Prevalent have teamed up to offer the Third Party Network as a comprehensive program for Third Party risk management across the UK and Europe. The network is built upon a collaborative, membership-based “Complete Once / Share Many” model of risk assessment and intelligence.

Within any industry or geographical region there is always a high concentration of common IT and data supply chains. Each individual client organisation then performs its own program of time- and resource-intensive risk profiling, assessment, analysis and remediation with huge overlaps of duplication and repetition.

And with around 60% of risk professionals’ time spent on assessment collection rather than understanding, mitigating and managing risk it is time to find a new model for more effective and efficient Third Party Risk Management. That is where the Third Party Network can help.

By sharing the cost, effort and output of risk assessments, evidence collection and reporting members of the Third Party Network can make significant and immediate improvements to their program’s efficacy, scalability and manageability.

A Unified Platform for Third Party Risk Management

This powerful partnership offers a one stop shop for all your needs throughout the Third Party Risk Management lifecycle to build, improve and refine your program.

The Third Party Network combines access to the Shared Assessments Program Tools along with access to threat intelligence and continuous monitoring, education and thought leadership from the Shared Assessments Program membership. Highlights include:

Assess & Share:  Network members can automate their assessments and easily share risk assessments through a “Complete Once/Share Many” design approach; includes the flexibility to launch your own assessments, leverage analytics, use standard Shared Assessments questionnaires or develop custom evidence gathering, and adjust risk scores based on your own risk posture.

Continuous Threat Monitoring Software:   Network members gain access to monitoring software that provides a holistic view of potential risks across five key areas:  Cyber/Data, Brand, Financial, Operational and Regulatory.  It captures events, scores and delivers email notifications to keep you continuously up to date on your suppliers.

Shared Assessments Program Tools:  Network members have automatic access to the Shared Assessments’ Program Tools, including the widely adopted Standardised Information Gathering (SIG) questionnaire. The SIG allows organisations to quickly build and share evidence internally and with any member of the exchange.

Full participation in the Shared Assessments member community:  Network members also get access to the industry’s only Certified Third Party Risk Professional (CTPRP) expert certification program, best practice thought leadership programs, peer networking and active participation in working groups to help define and shape future industry needs.

Key Benefits of the Third Party Network

  • Save Time and Cost of duplicated effort and resources assessing common suppliers in a “Complete Once, Share Many” model
  • Scale your Program quickly and effectively with cost-efficient entry and per-assessment pricing
  • Onsite assessment plug-in with assessment collection, validation and documentation collated and made available for members
  • Quick Return on Investment with on-demand access to completed risk assessments and evidence
  • Release your Resources to focus on value-add risk mitigation and management activity
  • Purpose-built solution for comprehensive Third Party risk management
  • Standardised, Best-Practice remote and onsite risk assessment methodologies
  • World Class TPRM platform from a Gartner MQ “Leader” in IT Vendor Risk Management Software
  • Plug and Play assessments, reporting, evidence and MI into your existing GRC platform

Supporting Services to Maximise your RoI from the Third Party Network

DVV Solutions can offer consultative and managed services to ensure you get the most out of your investment and membership in the Third Party Network. We’ll work with you to assess and improve your ability to manage increasing numbers and complexity of outsourced supplier risk.

Align and Integrate your policies and processes with the Third Party Network platform and deploy of the full suite of the Third Party Network’s tooling and services

Significantly reduce the time and resource costs associated with in-house collection and analysis of Remote and Onsite Third Party risk assessments

Rapidly increase the scale and speed of delivery by supplementing your existing resources and enabling existing teams to manage more suppliers, more effectively

Evaluate and Develop the maturity of your TPRM program, reviewing your risk ratings and profiling criteria to meet the most stringent regulatory requirements

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Why choose us?

We are specialists in Third Party Risk Management with over 18 years of experience in Cyber Security and Governance, Risk & Compliance
We are a Shared Assessments program member and recognised Assessment Firm with CTPRP-certified IT Security Assurance Consultants.
We are focused on delivering a Third Party Risk Management program that secures your data supply chain and enhances your IT security posture.