The power of efficient third-party risk management
Build a consistent, compliant approach with KPMG Powered Enterprise | Risk – Third-Party Risk Management
How well do you know your third-party suppliers? The risks can be great. But so are the rewards.
Delivering your products and services requires a critical ecosystem of service providers and suppliers. They bring so much value to you and your customers, but you can’t overlook the potential risks involved. A holistic and efficient strategy to onboard and manage them is more vital than ever.
In many organizations, it’s a complicated process. Inefficiencies create uninformed decision making, poor user experiences, and muddled risk ownership. And as pressure builds around regulation, manual processes can lead to fines and lengthy cycle times.
KPMG Powered Enterprise | Risk - Third Party Risk Management (TPRM) can help you automate your processes and minimize risks with better data management and integration across your organization. Using market-leading technology, you’ll be able to access our leading practices learned from working with many risk organizations. And our pre-configured tools and processes save time as you build value for your business.
KPMG Powered | Third Party Risk Management can align with your holistic enterprise risk management program.
Gain a clearer view of the facts
Powered Third-Party Risk Management helps you build real-time monitoring and make faster decisions
Automate risk assessments and due diligence activities
Build a consistent and compliant framework across your organization
Access workflows that help screen and score third parties
Reduce onboarding cycle times and costs
Increase regulatory compliance and resolve issues faster
Integrate complementary procurement processes and tools
Designed to help you succeed
By providing the elements you will need to develop, scale, and evolve your transformation program, we help you use strategies and tools that have been used effectively at many organizations. Our framework will help you move forward quickly and confidently.
73%
of third-party risk management (TPRM) professionals say they have experienced a significant disruption in the past three years.
61%
of TPRM professionals say it’s undervalued considering its enterprise-critical role.
58%
TPRM professionals say they will automate 58% of TPRM tasks in the next three years.
77%
of TPRM professionals say overhauling their operating models is overdue.
Powered Enterprise. It’s not just for Third-party Risk Management.
Many other functions in your organization can be enhanced from the Powered Enterprise approach. We can help you improve across functions to align practices and technologies that will work together for a better future.
Explore Powered services by function
Outcome-focused IT for the digital age.
Powered Enterprise Procurement
Unlock the potential of your procurement transformation with KPMG's accelerated processes and pre-built target operating model.
Unlock the potential of your procurement transformation with KPMG's accelerated processes and pre-built target operating model.
Powered Enterprise Risk
Create a thriving capability to continuously reframe risks so that you can reap from innovation, consumer trust and market share.
Create a thriving capability to continuously reframe risks so that you can reap from innovation, consumer trust and market share.
Radically new, human-focused supply chain
Meet today’s demands. Adapt to future expectations.
Powered Enterprise HR
Today’s workforce demands a digital, personal, and tailored employee experience.
Today’s workforce demands a digital, personal, and tailored employee experience.
Client story
On-demand visibility equals bottom line value
A Fortune 100 managed healthcare company had contracts with more than 50 suppliers, spending more than $2.5 billion annually in purchases. However, many suppliers were not meeting contracted service level agreements and contract and supplier performance were not captured, tracked or monitored. Using our Contract Performance Management process, we helped the client gain real-time visibility into the performance and compliance of all its contractual relationships. Now it can identify where value leakage is occurring and take remedial action, all while strengthening relationships with its most strategic partners.
On demand visibility equals bottom line value
Contract analyses and business insights are available to this client on demand through our secure, user-friendly portal. Return on investment in the first year of service was 400 percent.
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Meet our team
Find out what’s possible with KPMG Powered Enterprise | Risk – Third-Party Risk Management
Let’s talk about how KPMG can help you transform your TPRM function. Our client-tested methods, tools, and insights will help you get up and running faster so you can focus on your business and what comes next.
Eric C. Parker
Advisory Managing Director, GRC Technology, KPMG LLP
Greg Matthews
Partner, KPMG US
Eric C. Parker
Advisory Managing Director, GRC Technology, KPMG LLP
Greg Matthews
Partner, KPMG US