OPEN3PRX

OPEN Third-Party Risk Exchange

SMART Risk Insights for
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Trusted Source For Third Party Risk Assessment & Ratings Data

  • Enterprises can quickly access trusted and validated risk assessment data
  • Third Party Vendors  (Product or Service Providers)  including startups can get their risk posture improved by certified Risk Practitioners  with ability to share the validated risk ratings data with multiple enterprises customers
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open3prx™ risk MANAGEMENT framework
The OPEN3PRX™ is the only Risk Exchange that provides Enterprises with  broad focus covering all aspects of Risks related to Third-Party Vendors. All third-parties in the exchange are continuously monitored and changes to their ratings are reflected almost on a near real-time basis.
0
RISK DIMENSIONS
0
RISK CATEGORIES
1
RISK CONTROLS
cyb

technology RISK

dpr

data & privacy risk

rcr

compliance risk

fhv

financial health risk

osc

operational risk

str

strategic risk

scr

sub-contractor risk

con

concentration risk

geo

geographical risk

rep

reputational risk

org organization Risk ESg

INDUSTRY STANDARDS & REGULATIONS

Industry Standards

  • National Institute of Standards and Technology (NIST) – NIST SP800-53,
  • ISO International Organization for Standardization : ISO/IEC 27001:2013,
  • US,  Department of Defense (DoD) Cybersecurity Maturity Model Certification CMMC.

 

 

Industry Sectors

The OPEN3PRX Exchange covers vertically focused vendors, service providers and Startups in the FinTech, HealthTech which would need to work with enterprise customers in the highly regulated industries.

Financial Institutions, Healthcare & Pharma, Telecom, Manufacturing, Automobile, Aerospace, Oil & Energy, Retail, Consumer Food and more.

A HOLISTIC APPROACH TO VENDOR RISK SCORING

Our SMART Assessment Algorithm combined with our Continuous Monitoring of vendors provides Enterprises with a near real-time Vendor Risk Grading and Scoring across 12 Risk Dimensions.

 

VERY LOW

GRADE

AA

SCORE
91-100

 

LOW

GRADE

AB

SCORE
81-90

 

MODERATE

GRADE

BC

SCORE
61-80

 

HIGH

GRADE

CD

SCORE
41-60

 

VERY HIGH

GRADE

DD

SCORE
0-40

Vendors are assessed and certified at any of the five different levels based on their risk posture

01

12
Domains

12
Categories

24
Controls

VERY LOW
RISK

02

12
Domains

26
Categories

38
Controls

LOW
RISK

03

12
Domains

46
Categories

68
Controls

MODERATE
RISK

04

12
Domains

68
Categories

95
Controls

HIGH
RISK

05

12
Domains

96
Categories

140
Controls

VERY HIGH
RISK

Key benefits

Enterprises

Government agencies (public sector) and non-government organizations (private sector)

Third Parties

 Vendors / Suppliers and Startups

Risk Practitioners

Third-Party Risk Management professional or organization performing risk assessments

Fast track onboarding

Quick access to validated and certified risk assessment data of thousands of vendors

Respond quickly & proactively

Position yourself competitively by proactively sharing risk posture data

Build your advisory practice

Opportunity to advise and/or perform risk assessments for third-parties enrolled in the exchange

Save Cost

Save time and effort by leveraging vendor due-diligence and risk assessments data from the exchange.

Avoid the fatigue

Get assessed ones and share with multiple customers

Community of Risk Practitioners

Join a shared community of third-party risk management professionals, firms, assessors for greater collaboration and knowledge sharing

Industry standard frameworks

Supports both public and private sector requirements on meeting various regulations & standards

Complete guidance

Get the guidance needed to respond to risk assessments

Common Standards

Adopt readily available standardized frameworks & tools

Key benefits

Enterprises

Government agencies (public sector) and non-government organizations (private sector)

Fast track onboarding

Quick access to validated and certified risk assessment data of thousands of vendors

Save Cost

Save time and effort by leveraging vendor due-diligence and risk assessments data from the exchange.

Industry standard frameworks

Supports both public and private sector requirements on meeting various regulations & standards

Third Parties

Service Providers and Vendors / Suppliers

Respond quickly & proactively

Position yourself competitively by proactively sharing risk posture data

Avoid the fatigue

Get assessed ones and share with multiple customers

Complete guidance

Get the guidance needed to respond to risk assessments

Risk Practitioners

Third-Party Risk Management professional or organization performing risk assessments

Build your advisory practice

Opportunity to advise and/or perform risk assessments for third-parties enrolled in the exchange

Community of Risk Practitioners

Join a shared community of third-party risk management professionals, firms, assessors for greater collaboration and knowledge sharing

Common Standards

Adopt readily available standardized frameworks & tools

For Enterprises

Gain access to validated
assessments, access risk
maturity levels & ratings data of your third parties.

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For third-parties

Be THE company that your
customers will TRUST and
will want to partner.                                          

Learn More

For risk practitioners

Join the community of risk
practitioner’s, assessors,
appraisers and contribute
to a safe and secure world.

Learn More

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