By: Valuetech
Vendict, a leader in compliance and risk management solutions, has launched its new Third-Party Risk Management (TPRM) platform, setting a new benchmark for transparency and efficiency in vendor relationships. The AI-native solution is designed to go beyond traditional risk management, making compliance a strategic advantage that strengthens business partnerships from the outset.
This shift comes at a time when businesses are more interconnected than ever, with third-party vulnerabilities often posing the biggest risks. Existing risk management tools typically treat vendors as liabilities rather than strategic partners, creating inefficiencies and friction. Vendict’s platform addresses this challenge by focusing on trust and transparency, transforming the process into an opportunity for collaboration.
The company, led by Co-Founders Udi Cohen (CEO) and Michael Keslassy (CTO), aims to challenge the industry’s status quo with a platform that enhances compliance and fosters stronger relationships through AI-powered efficiency.
AI-Driven Insights and Expert Support
The advanced AI technology that is the foundation of Vendict’s platform is capable of analyzing intricate supply chains in a matter of minutes, utilizing audited documentation such as SOC 2 reports. This allows businesses to gain a deeper understanding of vendor security postures without extensive manual input. Vendict reduces the workload of vendors and organizations, ensuring that evaluations are thorough and efficient by automating repetitive tasks.
CEO Udi Cohen pointed out that many existing solutions fall into two categories: quick but shallow external assessments or comprehensive but time-consuming questionnaires that require vendor cooperation. Vendict’s approach bridges this gap by providing immediate, evidence-based insights that are as reliable as they are swift. Backed by a team of experienced AI researchers and GRC professionals, Vendict’s platform brings together precision and industry expertise to redefine TPRM standards.
Reinventing Third-Party Risk Management
Vendict’s solution tackles one of the biggest pain points in traditional TPRM: inefficiency. Many organizations still use systems that treat vendor management as a compliance-heavy task, creating bottlenecks that delay decision-making and strain relationships. Vendict’s platform, however, reimagines TPRM as a streamlined, proactive process that aligns with strategic business goals.
Traditional TPRM tools often require extensive input from vendors, leading to friction and delays. Vendict’s platform mitigates this by using existing compliance documentation to minimize redundant questions and reduce vendor fatigue. This approach accelerates security reviews and promotes transparency without sacrificing the depth of analysis.
“Today’s solutions fall into two categories: Security ratings, which offer quick but superficial assessments, and questionnaire-based solutions, which are time-consuming and depend on vendor cooperation,” said Cohen. Vendict’s platform, by contrast, provides a thorough analysis using certified documentation, enhancing transparency and reducing unnecessary burdens on both sides.
A Shift from Risk Management to Relationship Management
Vendict’s approach focuses on transforming TPRM from a risk-averse task to a strategic relationship management process. Traditional solutions often treat third parties as potential vulnerabilities, but Vendict’s platform views them as partners to be engaged. The platform’s design facilitates this shift through tools like the GRC AI Mentor, which offers real-time feedback and guidance to vendors to improve their compliance practices.
Vendict’s platform ensures that the emphasis is maintained on collaboration rather than compliance obstacles by automating the most aggravating components of security reviews, including repetitive questionnaires. This reduces friction and fosters strong partnerships built on mutual understanding.
Ultimately, Vendict’s new TPRM platform is more than just a compliance tool—it’s a strategy for building trusted, resilient vendor relationships. With a focus on transparency, efficiency, and partnership, Vendict’s solution is set to redefine what it means to manage third-party risk in today’s complex business environment.
Published By: Aize Perez
