What are the best third party & supplier risk management software?

There are several third-party and supplier risk management software solutions available that cater to different business needs. Here are some of the best options as of 2023:

1. **RiskWatch**: Offers a comprehensive suite for risk assessment, including third-party risk management. It provides tools for continuous monitoring and risk assessment.

2. **Archer (RSA Archer)**: A robust governance, risk, and compliance (GRC) platform that includes third-party risk management capabilities. It allows organizations to assess and manage risks associated with suppliers.

3. **LogicManager**: This GRC software includes features for third-party risk management, allowing businesses to assess, monitor, and mitigate risks from suppliers.

4. **Prevalent**: Focuses specifically on third-party risk management, offering tools for vendor assessments, continuous monitoring, and risk reporting.

5. **Venminder**: A dedicated third-party risk management platform that provides tools for vendor risk assessments, ongoing monitoring, and compliance management.

6. **Coupa**: Known for its spend management solutions, Coupa also offers supplier risk management features that help organizations assess and manage supplier risks.

7. **Diligent**: Provides a suite of governance tools, including third-party risk management, allowing organizations to manage supplier relationships and associated risks effectively.

8. **OneTrust**: Primarily known for privacy management, OneTrust also offers third-party risk management solutions that help organizations assess and manage vendor risks.

9. **SAP Ariba**: A procurement and supply chain management solution that includes features for supplier risk management, helping organizations evaluate and monitor supplier performance and risks.

10. **SailPoint**: While primarily an identity governance solution, SailPoint offers features that can help manage third-party access and associated risks.

When selecting a third-party and supplier risk management software, consider factors such as your organization's specific needs, the size of your supplier network, integration capabilities, and budget. It's also beneficial to request demos or trials to evaluate the software's usability and effectiveness in your environment.