R3P Consulting Limited Expands Outsourcing, Vendor Management & Risk Consulting With Supply Wisdom Third-Party & Location Risk Intelligence
Written by John Bree
The partnership provides Canadian clients with local client support to the most comprehensive and trusted intelligence and monitoring of third-party and location risks available today.
“We are excited to announce that R3P Consulting will extend Supply Wisdom coverage to the Canadian Market,” remarked Atul Vashistha, Supply Wisdom Chairman. “They bring in-depth third-party risk management (TPRM) knowledge and a breadth of experience working with, and caring for, Canadian clients.”
Continuous Insight & Alerts Across 300+ Risk Parameters
Supply Wisdom monitors global third-party and location risk based on over 300 risk parameters within the categories below. The assessment, monitoring, and alerting is continuous and real-time. Supply Wisdom assesses and quantifies risk related to any changes to or disruption of third party’s operations or location of service. News monitoring is 100% curated, ensuring no false positives. In addition, point-in-time risk scorecards and assessments can be generated on demand for a variety of internal and external risk reporting.
- Third-Party Risk categories: Financial, Cybersecurity, GRC, Solutions Maturity, Client, and People
- Location Risk categories: Geo-Political, Legal, Financial, Scalability, Macro-economic, Infrastructure, Business, and Quality of Life
Configurable & Scalable from Tier1 to Tier4 Providers
The Supply Wisdom subscription model is a tiered solution with four different tiers of risk monitoring coverage. Clients can easily match their tiered third parties and locations to one of Supply Wisdom’s four risk monitoring tiers to get the appropriate depth of risk coverage for each. Additionally, Supply Wisdom’s flexible solution allows clients to select the specific risk categories relevant to their risk monitoring needs. Client’s pay annually for their cloud-based subscription by the number of third parties and locations monitored and based on the depth of risk coverage selected for each. This enables clients to monitor their entire third-party and location universe efficiently and cost effectively for risk.
Supply Wisdom’s open APIs allow for smooth integration of their risk data into existing systems. For example, Supply Wisdom is certified and available as a data feed on platforms like RSA Archer and Third Party Trust.
“In particular, Supply Wisdom’s ability to configure depth of risk coverage into 4 risk monitoring tiers provides a much-needed scalable enterprise TPRM monitoring solution. The pricing for the tiered configurability now allows monitoring of large communities of Tier 2 and Tier 3 providers that have previously had little oversight. Likewise, the Supply Wisdom APIs allows for seamless integration into existing enterprise IRM investments” Added R3P Managing Director, Grant Geminiuc.
About R3P Consulting Limited
Established in 2008, R3P is a leading TPRM, Outsourcing & VMO consulting firm, that works collaboratively with our Canadian clients to optimize their third-party provider portfolio for (R3P) Risk: Price: Performance: Productivity.
Our TPRM practice focuses on remediation of high-high risks, such as: data center remediation and rapid moves, provider consolidations, provider re-negotiations and turn-around programs. As well as operationalization of TPRM operating models, tools, teams, roles, processes, controls, training and certifications for your staff.
About Supply Wisdom
Supply Wisdom is transforming the supply chain and third-party risk management space globally. Supply Wisdom solutions automate risk management for enterprises and deliver continuous third-party and location risk intelligence, risk monitoring and risk actions across the widest risk aperture to minimize the risks of disruption facing their business, supply chains and third parties.
Senior Vice President