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TPRM automation improves vendor assessment process

Snapshot

Improving vendor assessments through targeted enhancements and automation  

Third-party risk management (TPRM) helps organizations effectively reduce risks tied to their vendor relationships. For nonprofits, safeguarding intellectual property, sensitive data, and internal systems from vendor-related risks is critical. Kalles Group partnered with a global nonprofit to further streamline and strengthen their vendor risk processes by introducing practical improvements, including clearly defined reassessment criteria, refined risk scoring methods, insightful metrics, and strategic use of new technologies such as AI integration. 

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Challenge

Addressing evolving needs in vendor assessments  

Vendor risk management at nonprofits often involves unique considerations, such as protecting sensitive internal research data and intellectual property. The nonprofit initially implemented a TPRM automation solution to streamline vendor assessments, but challenges remained:  

  • Unfinished and stalled assessments impacting timely risk identification.  
  • Unclear and inconsistent vendor reassessment protocols across different risk tiers.  
  • Limited management visibility due to undefined or insufficient metrics.  
  • Excessive administrative burden placed on internal teams, specifically investment owners handling vendor evaluations.  
  • Lack of a clear internal framework for documenting and tracking organizational risks.  

The nonprofit needed targeted improvements to clearly define processes, enhance communication, and strategically integrate emerging technologies to support efficient and effective risk management. 

Approach

Streamlining Assessments with Smart Automation 

Kalles Group took a strategic approach by partnering closely with internal teams to first understand existing workflows, pain points, and stakeholder needs. After identifying opportunities for improvement and efficiency, we focused on streamlining processes, clearly defining protocols, and integrating innovative technology solutions. This approach focused on clarity, consistency, and usability, allowing teams across the organization to effectively manage vendor-related cyber risk.  

Key activities included:  

  • Implementing structured improvements and integrating new technologies  
  • Kalles Group collaborated closely with the client’s internal teams to introduce several targeted improvements that directly addressed these challenges, including:  
  • Developed and implemented improved security assessment templates, enabling completion of previously stalled vendor evaluations.  
  • Created standardized vendor reassessment guidelines for different vendor risk tiers. Integrated the new reassessment form directly within OneTrust, making the process streamlined and straightforward for stakeholders.  
  • Established key performance indicators to deliver meaningful insights to senior management. Created clear, actionable presentations to demonstrate vendor risk management effectiveness.  
  • Supported the rollout of a structured internal risk register within OneTrust, giving the nonprofit clear visibility into internal risks and related remediation efforts.  
  • Evaluated secure, privacy-focused AI solutions to facilitate SOC2 Type 2 report reviews. Conducted careful testing with Microsoft Copilot, comparing AI-generated reviews to manual reviews for accuracy, efficiency, and data security.  
  • Developed clear response guidelines based on BitSight score reductions across vendor tiers, enabling proactive risk management and timely remediation with relevant stakeholders.  
  • Revised the vendor request review forms to reduce workload for internal teams, allowing them to focus more directly on high-priority tasks.  
  • Created a transparent, easy-to-follow rubric to objectively evaluate vendor risks, allowing for clear decision-making and prioritization.  
  • Redesigned the TPRM Deck to effectively communicate the value, processes, and tiering methodology of the vendor risk program to broader internal teams, driving increased clarity and collaboration. 

Results

Increased clarity, productivity, and confidence in vendor risk management  

Through strategic improvements, the nonprofit significantly advanced their TPRM program’s effectiveness, clarity, and overall efficiency:  

  • Successfully completed all stalled vendor assessments, enabling faster risk mitigation.  
  • Established a standardized reassessment approach, simplifying ongoing vendor monitoring and greatly reducing confusion.  
  • Improved executive-level visibility with relevant metrics clearly demonstrating the effectiveness of vendor risk processes.  
  • Streamlined the management of vendor cybersecurity score reductions, proactively addressing risks through clearly defined response steps.  
  • Reduced administrative workload on internal teams, enabling them to allocate more focus toward strategic priorities.  
  • Established a clear internal risk register, enabling consistent documentation, tracking, and management of organizational risks.  
  • Demonstrated measurable productivity and accuracy gains in SOC2 reviews through careful integration of AI technology.  
  • Delivered transparent and consistent vendor risk scoring, leading to informed decision-making and streamlined risk prioritization.  
  • Improved internal communication and stakeholder buy-in through clearer, more engaging process documentation and presentations.  

With these targeted improvements, the nonprofit confidently manages vendor-related risks, freeing internal resources to pursue strategic goals and maintain robust cybersecurity practices.  

  

Ready to enhance your organization’s third-party risk processes? Connect with our team today to learn how we can support your TPRM efforts. 

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