TPRM and ticketing systems are a perfect combination of business applications to automate and optimize day-to-day processes. In recent blogs, we’ve highlighted how you can combine TPRM with GRC platforms and business analytics tools.
As your business grows, so does your customer base and your vendor ecosystem. To rise above the challenges that come with that, organizations use ticket management solutions (like Jira or ServiceNow) to centralize customer assistance and internal processes; and third party risk management (TPRM) tools to manage vendor risk assessments and continuous monitoring of third party vendors.
TPRM and ticketing systems can be integrated to streamline the intake of vendor data and provide better insights.
One of the most painful and time-consuming parts of third party risk management is collecting data from vendors to start the risk assessment process.
Teams struggle with manual and repetitive tasks that include chasing vendors via email and phone to have them fill out gigantic questionnaires and send security documents over and over again (SOC 2, CAIQ, pentests, insurance certifications, etc.). Not only at the beginning of the relationship, but also as they reassess vendors periodically.
In addition, third party risk assessments often require collaboration with different teams, such as Legal, Procurement, Sales, and the Business Units that own the relationship with the vendor. This makes it challenging to build a centralized and unified process to create, manage, and follow up on tasks related to risk management, as every team uses different platforms and methodologies.
Read More: What is third party risk management? The ultimate guide to TPRM
To overcome these challenges, system integrations allow you to connect the applications that you frequently use so that they exchange information and you can automate more processes. When bringing different programs together, data can flow seamlessly and uninterruptedly to avoid duplicate work.
So how can integrating TPRM and ticketing systems help you save time and effort?
When a business unit wants to engage with a new third party vendor, they can send the request through a ticketing system. The security team will determine if an evaluation is required, and prioritize requests accordingly.
They can initiate assessments by triggering the process in their preferred TPRM tool, which can kick off all the invitation and reminder emails to the supplier, leveraging automation of pre-defined workflows.
Read More: What is a Vendor Risk Assessment?
Findings from your third party risk assessments provide insights and indicators that can be leveraged in executive decision making. You can pull everything you need to know from a vendor from your TPRM tool, and use it in other platforms. This data can include inherent risk, scope of services, GDPR requirements, questionnaires and certifications, contracts, integrations, history of data breaches, and more.
Whether it’s deciding to engage with a new vendor or not as part of the due diligence process, or detecting security issues along the way, vendor risk findings and Key Risk Indicators (KRI) from your TPRM tool can trigger tasks that your ticket management tool can help you complete.
Maintenance costs are significantly reduced when you automate processes across systems and avoid unnecessary downtime. Integrations can cut down the time spent on repetitive actions and minimize errors by simplifying and automating processes, while helping third party risk managers prioritize issues accordingly.
Instead of entering vendor data manually from various channels, ticket management solutions can automatically generate tickets based on the information provided by the business units, and centralize them in a single interface for easier management.
The ThirdPartyTrust TPRM automation tool provides an open API and stellar integration assistance to help make vendor management as accessible and powerful as possible.
ThirdPartyTrust integrates with some of your most used software, including with popular office and Cloud software, GRC platforms (e.g. ServiceNow, Archer), ticketing programs (e.g. ServiceNow, JIRA), and reporting tools (e.g. PowerBI, Qlik).
Popular ticketing systems like ServiceNow and JIRA are used by help desks to collect requests and track ticket lifecycle from creation to resolution. ThirdPartyTrust directly integrates with such tools to make them even more powerful for enterprise businesses who take their security seriously.
Every day you use several applications to get your work done, and it’s about time they work together for you. Integrating TPRM and ticketing systems will allow you to do more and be organized, focused, efficient, and effective.
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