CoreStream GRC for TPRM

Enabling Third-Party Risk Management Across the Lifecycle

EXECUTIVE SUMMARY: Modern enterprises run on an extended network of third parties—suppliers, outsourcers, distributors, tech providers—creating value and substantial exposure. Managing this risk demands lifecycle governance, not one-time onboarding. Governance sets intent and alignment (objectives, values, accountability) and then sustains control through five phases: Onboarding & Due Diligence, Ongoing Monitoring, Audits & Inspections, Issue Management & Resolution, and Offboarding. Siloed ownership (procurement, IT, compliance, finance) and document-centric processes (spreadsheets, emails) fragment oversight, let risks compound, and keep organizations reactive.

An integrated TPRM platform centralizes data, automates workflows, and fuses external intelligence (sanctions, ESG, cyber ratings, adverse media) with internal performance—providing continuous visibility, defensibility, and cross-functional collaboration.

CoreStream GRC exemplifies this approach. It’s a configurable, no-code platform used to orchestrate the full TPRM lifecycle, integrate with ERP/procurement and risk-intel sources (e.g., SAP Ariba, Exiger, LexisNexis, Black Kite), and deliver real-time dashboards, audit trails, and automated alerts. Client references cite rapid deployment, lower total cost of ownership, strong vendor collaboration, and measurable gains in efficiency, effectiveness, and resilience. Reported outcomes include a single source of truth, fewer errors, proactive risk detection, and scalable assurance programs (including managed services).

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