LogicManager Third Party Risk Management

LogicManager Third Party Risk Management is a software platform designed for procurement, risk, and compliance teams to manage vendor relationships throughout their lifecycle. The platform provides centralized oversight of third-party vendors with unlimited user access and role-based permissions. The solution includes vendor governance capabilities with policy definition, tiering criteria, and ownership assignment. It maintains a comprehensive third-party inventory that documents engagement types, risk domains, and criticality classifications. The platform supports structured onboarding risk assessments across domains including cybersecurity, financial health, regulatory compliance, and reputational impact. Risk tiering functionality assigns vendors to risk categories that determine the depth and frequency of ongoing reviews. Contract readiness management features enable review and enforcement of contract clauses including SLAs, indemnification provisions, and audit rights. The platform tracks vendor performance against SLAs and contractual obligations through structured reviews. Incident management capabilities capture and address vendor-related breaches, control failures, and performance issues through governance-defined workflows. Root cause analysis and remediation tracking features support corrective action implementation. The platform includes reporting and dashboard functionality for visibility into vendor health and enterprise performance metrics.