IT Vendor Risk Management Software
Measure Your Program Outcomes
Source: Based on MetricStream customer responses and GRC Journey Business Value Calculator
-
80 %reduction in vendor onboarding time
-
50 %decrease in the time and costs to complete vendor assessments and identify risks
Effectively Manage IT Vendor Risks and Compliance
MetricStream IT Vendor Risk Management software provides comprehensive, real-time visibility into the vendor ecosystem, enabling organizations to manage vendor risks in a streamlined and consistent manner. IT Vendor Risk Management supports and automates vendor information management, vendor onboarding, continuous monitoring, vendor risk, compliance and control assessments, and risk mitigation. An integrated and federated approach provides an in-depth view of the risks across vendor relationships, improving IT vendor management and driving mutual growth.
Learn More product details Download RFP product details
How Our IT Vendor Risk Management Software Helps You
Structured Information Management
Document and maintain information on IT vendors, including IT assets, key contacts, associated business units, products or services, contracts, spend, certifications, ongoing assessments, country, risk or compliance issues, due diligence status, and risk ratings. Leverage the intuitive vendor profile page to search for and find vendors and associated information based on multiple criteria. Allow identified vendors to edit their profile – submit, update, or upload relevant information – through a self-service page.
Simplified Onboarding and Due Diligence
Automate screening and onboarding processes for different types of IT vendors and simplify vendor intake. Evaluate risks for each IT vendor, define the frequency of periodic assessments, and mitigate risks before onboarding. In addition, validate vendor information and ratings with the help of alerts from reliable external sources.
Integration of Trusted Content Providers
Deepen visibility into IT vendor risks, including cyber, financial health data, anti-bribery and anti-corruption data, and ESG and security ratings, by incorporating relevant, authoritative intelligence from trusted sources such as Dow Jones, D&B, BitSight, Security Scorecard, and more.
Continuous Monitoring and Risk Assessment
Leverage feeds from industry content providers to automatically validate information on IT vendors, gaining insights into their risk and compliance status. Subscribe to vendor-related alerts based on the criticality of each IT vendor. Review the alerts, risk rate vendors, and trigger risk assessments accordingly. Log issues depending on the breach of pre-defined thresholds.
Periodic Due Diligence
Conduct structured risk and compliance assessments of IT vendors with pre-defined questionnaires. Enable ad-hoc assessments by leveraging risk intelligence from external sources, incidents, performance failures, or business insights. Based on the responses, automatically calculate and aggregate risk scores to determine the overall risk posture of IT vendors.
Improved Performance Management with Vendor KPI Scores
Evaluate and track key performance indicator (KPI) scores of IT vendors. Enrich the internal scores with relevant data from various internal systems and databases, results of audits, assessments and inspections, and content providers. Use scorecards to monitor the performance of IT vendors and identify potential points of failure in a proactive manner.
Streamlined Business Continuity Risk Assessment
Capture and track the business continuity plans of IT vendors and gain comprehensive visibility into the overall business continuity and cyber risk. Leverage integration with content providers to source information on potential and actual hazards due to geophysical events.
Systematic Audit Assessment
Enable onsite audits or online audit assessments of IT vendors. Adopt a systematic, end-to-end approach to the entire process from information gathering to fieldwork, to reporting, and to issue remediation. Alter/modify assessments for evaluating IT vendors depending on multiple parameters.
AI-Powered Intelligent Issue Management
Quickly identify issues based on relationship and recommend issue classification by leveraging AI/ML capabilities. Automate the creation, management, and monitoring of actions for identified issues and findings. Simplify vendor off-boarding with in-built workflows and checklists in case of a contract breach or expiration, as well as incidents of non-compliance or dissatisfaction.
Intuitive Dashboards and Reports
Leverage powerful reports, analytics, and business intelligence capabilities to strengthen decision-making based on an improved understanding of risks, compliance, and performance of IT vendors. Capture and compare vendor assessment scores for each product or service type and track how their performance is improving over time. Allow vendors to monitor their progress through graphical reports and dashboards.
How Our IT Vendor Risk Management Software Benefits Your Business
- Manage and mitigate risks across the IT vendor lifecycle from onboarding to offboarding. Prevent incidents with intelligent assessments, improve consolidation and visibility, accelerate risk responses, and drive informed sourcing and negotiation decisions with historical vendor risk and performance data.
Trusted by Leading Brands
Related Resources
Analyst Report
MetricStream Named a Leader in IDC MarketScape 2025 Worldwide GRC Software Report
eBook
Looking into 2025 – A Journey Through GRC Challenges and Priorities
Frequently Asked Questions
MetricStream IT Vendor Risk Management is an AI-first product that provides comprehensive, real-time visibility into the IT vendor ecosystem, enabling organizations to manage vendor risks in a streamlined and consistent manner. It automates vendor information management, onboarding, continuous monitoring, risk and compliance assessments, and risk mitigation across the full vendor lifecycle—from initial registration through offboarding.
According to customer responses and the GRC Journey Business Value Calculator, MetricStream IT Vendor Risk Management has delivered an 80% reduction in vendor onboarding time and a 50% decrease in the time and costs required to complete vendor assessments and identify risks.
MetricStream IT Vendor Risk Management automates screening and onboarding processes for different types of IT vendors, simplifying vendor intake and due diligence. Risk profiles are evaluated for each vendor before onboarding is completed, and vendor information and ratings are validated using alerts from reliable external content sources. The frequency of ongoing assessments is defined based on each vendor's risk profile, ensuring that higher-risk vendors receive more frequent scrutiny.
MetricStream IT Vendor Risk Management deepens vendor risk visibility by integrating with authoritative intelligence sources including Dow Jones, Dun & Bradstreet (D&B), BitSight, SecurityScorecard, and others. These integrations provide real-time data on vendor cybersecurity posture, financial health, anti-bribery and anti-corruption risk, and ESG ratings. This external intelligence enriches vendor profiles and reduces the manual research effort required during due diligence.
MetricStream IT Vendor Risk Management uses AI in its Issue and Action Management capability to quickly identify issues based on their relationship to other vendor findings and recommend appropriate issue classifications. The product also automatically analyzes SOC 2 reports for anomalies, reducing the manual review effort required when assessing vendor compliance documentation. Vendor offboarding workflows are also streamlined through built-in AI-assisted checklists.
MetricStream IT Vendor Risk Management evaluates and tracks key performance indicator (KPI) scores for IT vendors, enriching internal scores with data from internal systems, audit and assessment results, and content providers. Vendor scorecards allow organizations to monitor performance over time and proactively identify potential points of failure. Vendors can also access their own performance dashboards and progress reports through the platform's self-service portal.
MetricStream IT Vendor Risk Management uses feeds from industry content providers to continuously validate IT vendor information and maintain up-to-date risk and compliance profiles. Organizations can subscribe to vendor-specific alerts based on each vendor's criticality, and the platform automatically triggers risk assessments or logs issues when pre-defined risk thresholds are breached. This continuous monitoring approach replaces periodic, point-in-time reviews with an ongoing, dynamic view of vendor risk.
MetricStream IT Vendor Risk Management includes built-in workflows and checklists for vendor offboarding triggered by contract breaches or expirations, incidents of non-compliance, or vendor performance dissatisfaction. AI-assisted offboarding checklists ensure that all required steps—such as revoking system access, recovering assets, and documenting the offboarding rationale—are completed in a structured, auditable manner.
MetricStream IT Vendor Risk Management provides powerful reports, analytics, and business intelligence capabilities that help management teams make better-informed sourcing and negotiation decisions based on historical and real-time data on vendor risks, compliance status, and performance. Vendor assessment scores can be captured and compared across product or service types, giving procurement and risk teams objective evidence to support vendor selection, retention, and renegotiation decisions.
MetricStream IT Vendor Risk Management is designed for IT risk managers, third-party risk officers, procurement professionals, and CISOs at organizations with significant vendor ecosystems. It is especially valuable for organizations in regulated industries—such as financial services, healthcare, and technology—where regulatory requirements mandate formal oversight of IT vendors, particularly those with access to sensitive data or critical infrastructure. Individual vendors can also access the platform through a self-service portal to update their profiles and respond to assessments.