Third Party Risk Management FAQs

Find below a selection of FAQs we hear when discussing Third Party Risk Management.

What types of risks are uncovered as part of third party risk management?

The risks we consider include:

  • Financial irregularities & fraud
  • Hate & discriminatory behaviour
  • Violence & abusive behaviour
  • Employee/client reviews
  • Debarred/disqualified/insolvent entities
  • Links to criminal activity
  • Adverse media
  • Political exposure
  • Multiple aliases
  • Modern slavery concerns
  • Environmental concerns
  • Risks associated with stakeholders/networks

Can you operate in different languages?

Yes, we are able to process data in over 200 languages

I already conduct supplier due diligence, how is this different?

Google searches only cover 4-6% of the entire internet. The Neotas Platform interrogates 100% of public online data, as well as all the traditional databases, to provide a richer and more complete profile of companies and their networks, with greater:

  • Coverage: we cover traditional third party databases, the entire internet (surface, deep and dark web)
  • Depth: we automatically gather and analyse data using AI and machine learning, pulling information which others do not. This provides unique insights into behavioural attributes, reputation, connections (that are not in any databases).
  • Speed and ease of use: our Platform can conduct ‘built-in’ investigations in seconds as opposed to days and hours. The Neotas Platform is also easy to use.

My third party network evolves all the time – is this the right solution for me?

Yes, absolutely. We are able to interrogate and analyse vast amounts of data at speed. We join the dots between disparate parties, search for risk factors and provide you with a clear view of suppliers’ networks and your exposure to risk.

If your question hasn’t been answered here, then we would love to hear from you. Contact us directly, or schedule a call below.