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Years Experience
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Customers
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Client Retention
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Identities Protected
Analyze and control third party risks. Avoid damages. Strengthen relationships.
Minimize your organization’s exposure to risks, manage third party relationships at scale.
Organizations are relying more on third party vendors to ensure faster production outcomes, meet tight delivery timelines, and lower costs. However, while expanding their operational ecosystem through third party suppliers to augment their products and services, they get exposed to unforeseen risks.
Risk and compliance objectives are no longer limited to traditional organizational boundaries, rather organizations now responsible for the actions of their third-parties. Third party risk management is the process of analysing, controlling, and monitoring the risks presented to an organization by a third party vendor.
Key Drivers
Businesses can expose themselves to increased threats due to lack of dedicated third party risk management initiatives. These risks can be complex since it involves various stakeholders from different business functions accessing multiple systems and processes. Some of key drivers of third party risk management include:
Extended Enterprise
The notion of the extended enterprise is becoming more important as firms have become more specialized and interconnected. This is due to globalized trade, standardized processes, and ubiquitous information. There are more dependencies due to this supply web and organizations can impose different types of risks on each other.
Regulatory Focus
Developments in regulations such as GDPR, HIPAA, ‘Outsourcing Requirements’ from British FCA and ABAC has led to third party risk management compliance standards in non-financial sectors.
Organizational Risk Impact
Involvement of third parties in an organization’s business processes, IT Systems, data sharing (PII) models and inadequacies in third party control environments exposes the organization to data breach risks, IT risks, operations failure, and financial risks.
Diversity of Third Party Landscape
Third-party relationships also get expanded to contractors, joint ventures, fourth parties, and distributors. They carry different risk profiles making it difficult to identify, analyze, centralize, and monitor information.
Manage Third Party Risks
Xiarch adopts a lifecycle approach to manage your third party risk management needs which includes planning, assessment, remediation, and periodic monitoring and improvement.
Requirement
Identify the objectives (policies & standards) and compliance needs.
Planning
Align resources and set roles & responsibilities to execute risk assessments. Populate and centralize third party catalogue, MSA’s, and engagement data in the risk management system.
Scoping
Categorize third-party vendors as per the requirements This reduces redundancy in questionnaires improving the timelines for completing assessments.
Execution
Execute risk assessment exercise to identify compliance and risk score. Assign relevant questionnaires to respective vendor SPOC and gather responses and artefacts. Employ risk-based segmentation can effectively categorize third parties and prioritize monitoring.
Remediation
Analyze identified issues and remediate them with corrective measures. Assessor provides feedback to vendor SPOC after questionnaire response review and provides actionable advices to close critical observations. Issues or observations identified also drives the risk identification and remediation process.
Monitoring
Continuous monitoring of vendor performance by comparing current assessment with previous assessment to minimize risk scores.
What We Deliver ?
It’s an important practice that gives organizations visibility into real-world threats to your security. As part of a routine security check, penetration tests allow you to find the gaps in your security before a hacker does by exploiting vulnerabilities and providing steps for remediation.
Risk Policies and Procedures
We will design appropriate policies & procedures that will provide a structured framework for handling the risks associated with potential suppliers, vendors and third parties.
Risk Assessment
Our third-party risk assessment reports offer a comprehensive evaluation of external vendors and partners. We identify potential risks associated with third-party relationships, assess their impact on your organization, and provide actionable insights to mitigate these risks. Our reports enable you to make informed decisions, strengthen vendor management practices, and ensure the security and resilience of your supply chain.
Risk Mitigation Plan
This plan outlines proactive measures to reduce identified risks and their potential impacts on your organization. It includes actionable strategies and controls designed to enhance resilience, strengthen security measures, and minimize vulnerabilities. By implementing this plan, you can effectively manage risks, protect assets, and maintain continuity of operations.
Why Xiarch ?
Xiarch has been a value leader in the industry for over a decade, serving clients globally. We have successfully safeguarded our clients in both the private and public sectors from a range of risks and cyber challenges. Xiarch has 15+ years of experience with over 2200+ satisfied customer and retaining 98% of our clients. We have delivered over 3100+ projects and projected 2M+ identities.
Contact our sales team @ +91-9667916333 for further clarifications on above stated service, you can also reach us by an email at [email protected]. We’ll be great full to serve you. Happy Security.
Few Customer Testimonials
Our clients like us for our specialized abilities, administration quality and polished methodology. Sharing their great words is a delight for us.
We are pleased to state under the guidance of Xiarch Solution, Schneider is in the process of establishing the best security practices and processes to satisfy its business needs and meet the ISO 27001 requirements. The timeframe for the project is about 4 months and till now there is no time and cost overruns.”
Sr.Manager Schneider
Working with the staff at Xiarch is always a pleasure. They helped us write policies that we never had, did intrusion testing and a vulnerability assessment. We are more secure because of the work they do for us.”
CTO ROINET
Xiarch quality of deliverables and services is excellent and so was performance of Xiarch team during the assignment and they provided on time delivery (commitment to schedule). We are thoroughly overall satisfied working with Xiarch and wish to have long term relationship.”
Sr.Programmer NIELIT
Trusted by Thousand of Brands
Our Offices
Chicago 
Xiarch Solutions
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200 E. 5th Ave, Suite 111, Naperville, Illinois 60563, US
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+1 (312) 404-9164
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[email protected]
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www.xiarch.com
Gurugram 
Xiarch Solutions
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403, 404, Spaze Edge Tower 1, Malibu Town, Sector 47, Gurugram, Haryana 122018
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+91-9667916333
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+91-9667916333
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[email protected]
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www.xiarch.com
Get In Touch With Us
Test the effectiveness of your own security controls before malicious parties do it for you. Our security experts are here to help — schedule a call today.
Xiarch is a global security firm that educates clients, identifies security risks, informs intelligent business decisions, and helps you reduce your attack surface across digital, physical, and social domains.
Certified Security Experts
Our security experts are exceptionally qualified, holding certifications such as CEH, ECSA, OSCP, CISA, CISSP, and many others.
Communication & Collaboration
After reviewing the code, our specialists provided the best solutions for correction. Our experts will collaborate with you for any further implementations.
Research-Focused Approach
We hold industry-leading certifications and dedicate time each day to researching the latest exploit techniques, ensuring our clients remain protected from evolving online attacks.
Free Remediation Testing
Once your team implements the remediation recommendations, Xiarch will schedule your retest at no additional charge.
