Risk Cognizance Third Party Risk Management is a software platform designed to manage risks associated with vendors, suppliers, contractors, and partners throughout their lifecycle. The platform provides centralized visibility and control over third-party relationships. The software includes automated vendor assessments with configurable questionnaires, risk scoring, and evidence collection capabilities. It supports risk-based vendor tiering to categorize third parties based on criticality, data sensitivity, and business impact. The platform offers continuous monitoring capabilities that track vendor security postures, financial health, and compliance status through integrated data feeds and automated alerts. It includes performance tracking for key performance indicators and service level agreements. Compliance features map vendor controls to regulatory frameworks and internal policies. The system integrates regulatory change management to adapt assessments and contractual agreements to new requirements. The platform assesses vendor cybersecurity posture including IT controls, incident response plans, and data protection measures. It includes case and incident management functionality for tracking and resolving vendor-related security incidents and operational disruptions. Audit capabilities collect and manage evidence of vendor controls for internal and external audits. The system generates reports for management, boards, and regulators on third-party risk exposure and mitigation efforts. The platform includes ESG risk assessment capabilities to evaluate vendors on environmental, social, and governance factors. It features workflow automation and AI-powered compliance management tools with over 250 integrated applications and API access.