Managing the complexity of third-party risk management (TPRM) is a common challenge across many industries. Like the suppliers they source from, the employees and facilities that must comply with risk processes are often dispersed across the globe, making standardization difficult. In addition, companies face these common problems:
- Manually intensive processes with redundancies and deficiencies.
- Lack of visibility preventing insight into supplier compliance.
- Multiple, disparate systems, making it hard to gather due diligence information.
- Excessive effort and resources required for gathering information and tracking approvals.
- Difficulty generating real-time reports on global compliance readiness, issue resolution, risk assessment, and compliance metrics.
Responding to these challenges, KPMG LLP (KPMG) has developed a secure, flexible, cloud-based offering, enabled by the Appian Low-Code Automation Platform. This offering automates the TPRM process while accommodating your unique requirements. With a deployment timeline of a mere 8–10 weeks, it offers global organizations across all industries the opportunity to strengthen compliance and reduce risk by identifying, ranking, vetting, and monitoring suppliers.