For years, banks and funds of all sizes have used Thomas Murray's platform to select, monitor and assess their third parties. Third-party risk management is an important activity in any company where there is exposure to external or affiliate service providers carrying out outsourced functions.
SupplierSelect is a due diligence platform designed to minimise the time and effort spent collecting data and maximise the efficiency of analysing it. Too many companies still rely on a combination of email, Excel and other manual processes to perform due diligence - a time-consuming, inefficient and potentially high-risk exercise.
We have now upgraded our platform to provide industry-leading analytics, visualisation and, most importantly, ease-of-use. The dashboard below (Fig 1) is an example of how users can monitor their global network of third-parties - managing due diligence responses received, communication, project status and market-by-market summaries.
(Fig 1: SupplierSelect's new dashboard)
The dashboard is intuitive and customisable. Its design was driven by client feedback and extensive testing, ensuring a simple and powerful solution in an increasingly complex risk and regulatory environment.
SupplierSelect is a popular solution for regulated and unregulated companies alike. One Luxembourg-based management company said the platform has been 'revolutionary', while a major pension fund said it allowed them to focus on the 'content' of their analysis, adding that the platform's customisability and Thomas Murray's knowledge of best practice were 'extremely helpful'.
Our platform is the most advanced solution for third-party risk management, built by software experts to serve the needs of the financial industry. Contact us today to arrange a free trial, or read more about SupplierSelect here:
https://thomasmurray.com/technologies/supplierselect
