Background image

Risk Management

Third-Party Risk Director

Non-Employees – A Risky Proposition

An ever-growing area of concentration in risk management is identifying and mitigating the risks that third parties introduce to an organization – and perhaps equally important, ensuring that third parties don’t introduce unmeasured risk. One might think that third-party governance systems, sometimes used for vendor assessments, could be used to manage the identity and access management aspects of the vendor relationship. However, most security vendors do not consider identity to be part of third-party management. In fact, organizations realize the risk of third parties the moment they provision access, whether or not it is measured, mitigated, or even known.

However, according to a 2018 Ponemon Institute supply chain study, most organizations don’t even know their exact number of third-party users and only a third of organizations had a list of all third parties they are sharing sensitive information with.

To effectively manage third-party risk, organizations require a purpose-built, scalable solution that improves the granularity, transparency, consistency, and agility of their third-party risk management program.

Read our latest white paper on The Risk Management Blind Spot

Download our latest white paper to read more on : Risk management best practices, Applying risk tolerance for third parties, Third-party identity risk management responsibilities, and SecZetta’s approach to third-party identity management

Download Now

Making Third-Party Identity Risk Management Easy with SecZetta

Third-Party Identity Risk Solution Product Tour

SecZetta’s Third-Party Identity Risk Solution enables your organization to automate processes for all of your third-party non-employees and establish zero trust, risk-based identity access throughout their entire lifecycle. Start your self-guided tour…

Take Your Tour

SecZetta Can Help

Our Third-Party Identity Risk Management solution provides a comprehensive set of capabilities that help organizations improve operational efficiency and reduce the cost and risk of managing third-party identities. SecZetta’s solution does this by allowing an organization to streamline third-party identity management and risk rate, consolidate, store, and validate third-party identities.

Risk management teams can best ensure that third-party identity risk falls within established third-party risk tolerances and aligns with an organizational-level risk appetite statement by implementing risk ratings at the vendor and user levels. Workflows can then be built and executed based on the rating, user type, or other factors.

This helps organizations improve the granularity of third-party risk management while at the same time increasing operational efficiency. Such automation is essential because it creates consistency, limits human error, and avoids risky delays in the removal of access.

With the SecZetta’s Third-party Identity Risk Management solution, automated and proactive workflows ensure process compliance, data integrity, and timely access changes to reduce and eliminate third-party identity risk. 

  • Provides a risk rating for each both human, and non-human, non-employees 
  • Streamline audits and reduces the risk of misclassification or co-employment 
  • Automates workflows replacing time-consuming, unverified decisions, and manual processes 
  • Onboarding is accelerated, risk decreased, and a transparent authoritative view of all entries is created 
  • Easily integrates with risk management, IGA, IAM, and proprietary solutions

 

 

Key Benefits

  • Reduce Risk

    • Risk ratings can be assessed for individual third-party identities
    • Automated workflows can be created to support identity re-validation audits
    • Transparency into third-party relationships results in less over-provisioning and timelier deprovisioning
    • Standardized APIs ease integrations for identity proofing, licensing validation, and credentialing systems
    • An authoritative source for third parties helps avoid misclassification or co-employment
    • Audits can be streamlined, reducing manual processes

  • Improve Operational Efficiency

    • Timely, accurate, and actionable information from a centralized, authoritative source for non-employee data
    • Collaboration hubs enable internal & external resources to input information needed for third parties
    • “No-code” design allows users to customize portals and workflows without technical resource support
    • Workflows accelerate onboarding, simplify audits, and enable timely deprovisioning
    • Standardized APIs ease integrations for: HRIS, IGA, IAM, vendor, and risk management systems

  • Cut Costs

    •  Automate time-consuming and costly manual processes with customizable workflows
    • Speed time to value for new non-employees with accurate and efficient provisioning
    • Cut the high cost of maintaining non-employee data in HR and contingent labor systems
    • Reduce the risk and costs associated with misclassification of employees and co-employment violations
    • Stop supporting costly proprietary systems that struggle to meet evolving requirements

Trusted Customers