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The growing reliance on interconnected third parties, compunded by their own extended networks, presents organisations with an escalating challenge in onboarding, monitoring and mitigating risks.

Ensuring Secure Vendor Engagements

Organizations engaged in onboarding third parties are faced with the cumbersome task of navigating through scattered information. The absence of a centralized and cohesive system makes the onboarding process tedious and complex, requiring extensive collaboration efforts to compile relevant information about potential third parties.

The lack of data verification introduces a significant risk factor, as organizations may base critical decisions on inaccurate or incomplete information.

Our software offers a centralized platform where organizations can effortlessly manage all aspects of third-party onboarding, from initial assessments to ongoing monitoring. Alt-I incorporates robust data verification mechanisms to ensure the accuracy and completeness of third-party information. Real-time risk assessments and customizable risk scoring algorithms empower users to make informed decisions and implement necessary controls to safeguard their operations.

Key Features of Onboarding

Real-Time Visibility into Risks

During the monitoring stage of third-party engagements, organizations encounter a critical challenge: the absence of real-time visibility into associated risks. This lack of immediate insight means that organizations are unable to promptly identify emerging risks or changes in risk profiles within their third-party relationships. As a result, crucial decision-making processes, such as implementing mitigation strategies or adjusting risk management measures, are delayed. These delays expose the organization to prolonged periods of vulnerability, where potential threats may escalate unchecked.
To address the challenge of delayed risk response and mitigate the associated losses, Alt-I, provides a robust solution tailored for real-time risk visibility during the monitoring stage of third-party engagements. Through customizable dashboards and alerts, Alt-I empowers organizations to proactively identify and respond to emerging risks as they occur, enabling timely decision-making and risk mitigation actions.

Key Features of Monitoring

Streamlining Handover Processes

During the transition stage, organizations face significant challenges due to the absence of a smooth employee handover process. Currently, transitioning between the employee leaving the organisation and the employee taking charge typically takes 7-10 days on average, requiring extensive coordination among multiple team members and the collection of various documents. This cumbersome process is prone to errors and inefficiencies, as it involves navigating through disparate systems and communicating across siloed teams. Consequently, mistakes can occur, leading to delays, and miscommunications, ultimately impacting the organization’s operations.

Alt-I offers a comprehensive solution to streamline the transition stage of third-party engagements, revolutionizing the handover process into a seamless and efficient operation. Serving as a centralized repository and one-stop destination for all team members involved in third-party engagements, Alt-I simplifies document management, communication, and collaboration. With Alt-I, organizations can consolidate all relevant information and documentation within a single platform, eliminating the need for manual coordination and reducing the transition time from days to hours.

With our software acting as a centralized repository, the transition time reduces from 7-10 days to just 30 minutes.

Key Features of Transitions

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