Mastercard (RiskRecon) is present in 2 markets with 2 products. Mastercard (RiskRecon) has 80 reviews with an overall average rating of 4.3.
Supplier Risk Management Solutions
Gartner defines supplier risk management solutions as advanced technology platforms that facilitate comprehensive supplier risk management activities. These platforms not only aid in the identification and continuous monitoring of potential risks, such as financial instability, geopolitical concerns, and compliance challenges, but also enable a thorough analysis of their holistic impact. Furthermore, they support the coordination of both operational and strategic responses to mitigate these risks effectively across the entire supply ecosystem. Supplier risk management solutions empower supply chain and procurement organizations to effectively address both foreseeable and unforeseen disruptions, such as those arising from geopolitical tensions or extreme weather events. These solutions ensure regulatory compliance. These solutions optimize supplier performance management. These solutions mitigate financial risks. These solutions enhance sustainability and environmental, social, and governance (ESG) initiatives. Additionally, they bolster business continuity measures. They provide foresight into capacity fluctuations, thereby safeguarding the supply chain’s integrity and resilience. By leveraging AI, advanced analytics, and real-time data, supplier risk management systems provide a comprehensive framework for identifying, assessing, and managing risks. This proactive use of technology not only minimizes potential disruptions but also enhances overall supply chain agility and responsiveness. Supplier risk management and third-party risk management (TPRM) are distinct concepts within the broader risk management framework. While supplier risk management focuses primarily on the direct relationships and dependencies between an organization and its suppliers, TPRM encompasses a more extensive array of external entities. TPRM includes regulators. TPRM includes subcontracted service providers. TPRM includes various other partners. TPRM extends beyond mere arm’s-length relationships, addressing a comprehensive spectrum of interactions and dependencies. Moreover, TPRM generally does not directly correlate real-world events with their potential impacts on the supply chain, thereby necessitating a more holistic and integrated approach to risk assessment and mitigation. In other words, TPRM tools detect risks and impacts but do not utilize this information across the full supplier network to understand the wider supply chain implications.
Mastercard (RiskRecon) has 1 product in Supplier Risk Management Solutions market
Third-Party Risk Management Technology Solutions (Transitioning to Third-Party Risk Management Tools for Assurance Leaders)
The third-party risk management (TPRM) technology market offers solutions to identify, assess, manage, monitor and report on third-party risks associated with vendors, suppliers, distributors, agents, partners or other third parties. Solutions in this market can support a wide range of TPRM workflows across various risk domains. TPRM platforms in this market address the needs of a diverse range of customers and risk domains, including legal, compliance, procurement, supply chain, IT, cybersecurity and other teams that work with or provide routine oversight of third parties. Some technology solutions offer enterprise third-party risk management workflow as a feature, along with risk tiering, due diligence, risk mapping, metrics and reporting mechanisms. Other platforms may facilitate integration with risk data subscriptions, data aggregators or other subscriptions. The TPRM technology market is a complex array of solutions servicing many business functions across an enterprise. TPRM solution providers can be categorized into technology platforms and tools, or risk-domain-specific data and insights.
Mastercard (RiskRecon) has 1 product in Third-Party Risk Management Technology Solutions (Transitioning to Third-Party Risk Management Tools for Assurance Leaders) market