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Risk and Compliance Management

Collaboratively identify, track, manage, and mitigate third-party risks on an ongoing basis across the lifecycle with an AI-powered solution that works out of the box.
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Risk and Compliance Management with Enlighta Spice

Reduce risk exposure and ensure compliance across the third-party lifecycle continuously.

Risk Assessment & Monitoring

  • Comprehensive Risk Assessment Templates: Launch built-in best-in-class risk assessment questionnaires or create your own with custom questions and weights. 
  • Risk Profiling & Scoring: Track initial and residual risk scores and tiers for vendors and contracts based on impact and likelihood of occurrence across risk domains (such as location, information security, financial viability, etc.).
  • Automated Triggers & Questionnaires: Set triggers based on initial or residual risk ratings to automatically launch due diligence questionnaires.
  • Continuous Risk Monitoring: Continuously track third-party risk through adverse events monitoring , vendor performance monitoring , and recurring risk assessments.
  • Evidence Library: Store and manage evidence documents provided by vendors like attestations, reports, and certifications with access control and expiry settings.

Remediation & Risk Mitigation

  • Risk Thresholds and Triggers Definition: Define relevant thresholds for risk monitoring and control tasks for mitigation.
  • Collaboration & Planning: Collaborate with internal teams and vendors to create and execute remediation plans to address identified risks.
  • Action Item Management: Automatically assign action items to internal stakeholders and vendors based on risks identified.

Reporting & Compliance:

  • Compliance Task Automation: Automate ongoing compliance activities and reminders for various regulatory requirements.
  • Risk Scorecards & Dashboards: Generate and share final risk scores and tiers of suppliers and contracts with relevant stakeholders.
  • Audit Management: Conduct and record internal and third-party audits, track findings, and develop corrective action plans.

Enlighta Spice Advantage

Unified

Streamline onboarding, contracting, performance, compliance, and risk monitoring and management with one platform.

Adaptable

Tailor everything from assessments to workflows without code and integrate internal and external data feeds and systems with Enlighta Spice.

AI-Powered

Leverage advanced machine learning rules and NLP to automate contract identification and generation as well as clause extraction, analysis, and updates.

Secure

End-to-end encryption, standalone application deployments, and regular vulnerability assessments guarantee your data’s security.

Resilient

Automated backups, high availability, and uptime SLAs ensure consistent performance and uninterrupted reliability for you and your third-parties.

Scalable

Start small and scale to thousands of vendors, contracts, and users with our modular platform and flexible subscription plans.

See how Enlighta’s Third-Party Risk Management software can help you identify hidden risks and mitigate them 50% faster than traditional TPRM solutions.

Schedule a personalized Enlighta Spice demo today.

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