ACE Assessment®

A Complete Third-Party Risk
and Audit Management System

Whether sending forms to vendors or conducting internal audits, ACE Assessment® delivers the tools you need to ensure compliance, mitigate risks, and build stronger vendor relationships.

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ACE Assessment® offers many business benefits, including:

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Enhance Risk Mitigation

Identify and address potential third-party risks early to safeguard your supply chain and maintain compliance.

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Improved Efficiency

Streamline third-party assessments and audits with automated workflows, reducing manual errors and saving time.

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Simplified Compliance

Meet industry and regulatory standards with consistent, tailored assessments and detailed audit trails.

Here's how ACE Assessment® can
transform your vendor assessments and audits

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Third-party Risk Management

Streamline Vendor Management, Assessments, and Monitoring

ACE Assessment brings together vendor management, risk evaluation, and monitoring into a single platform to provide a comprehensive view of risk. Simplify vendor onboarding, assess performance with customizable and standardized checklists. ACE Assessment helps identify, prioritize, and report risks while streamlining the remediation process for a more efficient and secure vendor management workflow.

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Customizable Audit Checklists

Tailor Audits to Fit Your Needs

Create and customize audit checklists to suit specific vendor requirements, industry standards, or internal policies. By categorizing vendors into risk tiers, you can prioritize high-risk suppliers for audits and allocate resources effectively, reducing potential vulnerabilities across your supply chain. Whether conducting a detailed audit or a quick compliance check, ACE Assessment ensures you capture the right data every time, improving audit precision and consistency.

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Vendor Collaboration Portal

Streamlined Communication and Form Submission

Provide vendors with a secure portal to complete assessments, upload supporting documents, and respond to audit requests. This feature eliminates manual follow-ups, ensures timely submissions, and fosters transparency between your organization and your suppliers.

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Real-Time Reporting and Dashboards

Gain Actionable Insights

Track assessment progress, vendor performance, and audit outcomes with real-time dashboards. Generate detailed reports to identify trends, mitigate risks, and improve vendor relationships, ensuring a proactive approach to supply chain management.

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Automated Notifications

Send reminders to vendors and internal teams to ensure assessments and audits are completed on time.

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Assessment Templates

Leverage templates to start your assessments quickly or customize them to meet specific needs.

Popular Use-Cases

Empower your teams with
improved vendor management

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Vendor Qualification and Approval

Evaluate new vendors to ensure they meet your organization’s compliance and quality standards.

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Internal Quality Audits

Use ACE Assessment for internal quality checks to improve processes and ensure organizational compliance.

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IT Vendor Security Assessments

Conduct audits focused on cybersecurity and data protection to mitigate risks in your IT supply chain.

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Supplier Risk Management

Minimize the impact of supply chain disruptions and ensure regulatory compliance by monitoring supplier performance.

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Regulatory Compliance Audits

Perform assessments to ensure vendors comply with regulations like GMP, ISO 13485, GDPR, HIPAA, PSI DSS, SOC 2, etc.

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Health and Safety Audits

Evaluate vendor compliance with workplace safety standards to minimize risks and ensure safe operations.

Frequently asked questions

Third-Party Risk Management (TPRM) refers to the process of identifying, assessing, and mitigating risks organizations face when engaging with external vendors, suppliers, and service providers. These risks can include cybersecurity vulnerabilities, regulatory compliance failures, financial risks, and reputational damage.

Third parties often have access to intellectual property, sensitive data, personally identifiable information (PII), protected health information (PHI), or systems. Therefore, it’s essential for businesses to continuously monitor these external partners for potential risks that could impact the organization’s security, performance, or compliance​​.
Responsibility for conducting vendor assessments varies based on the use case and industry. For cybersecurity evaluations, IT Security and Risk Management teams often lead the process. In industries like healthcare or finance, Compliance and Legal teams ensure vendors meet regulatory requirements. Procurement teams play a key role in assessing vendors during onboarding to verify their financial stability and operational capabilities. Additionally, Quality Assurance teams may conduct audits to evaluate vendor performance and adherence to standards, particularly in manufacturing or life sciences. Vendor assessments are a collaborative effort tailored to the specific needs of the organization and its industry.
Third-party risk management is essential for safeguarding businesses against security incidents, financial losses, and compliance violations associated with external vendors.
When evaluating third parties, it’s vital to systematically assess their security, business continuity, and compliance with applicable regulations. This process often includes:

Risk Assessments: Conducting initial and periodic evaluations of vendors’ practices and overall risk levels.

Risk Scoring: Utilizing tools like ACE Assessment to assign scores based on metrics within assessment areas.

Questionnaires: Requiring vendors to complete standardized questionnaires to disclose their compliance with industry standards.

Continuous Monitoring: Regularly tracking vendor activities, incident reports, and updates to stay informed of potential risks.

Talk to an expert

Get answers to your questions and discover how ACE can help you transform your business, while mitigating risk, with modern vendor assessments.

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