Vendict, a compliance and risk management solutions leader, has launched its next-generation Third-Party Risk Management (TPRM) platform, redefining how companies approach vendor relationships. The new AI-native solution aims to transform the traditionally complex risk review process into a streamlined, trust-focused strategy that strengthens long-term business partnerships.
Third-party vulnerabilities are a significant source of data breaches in the current landscape, and the capacity to manage vendor risk has become a critical priority. Yet, most organizations struggle to keep up, relying on outdated systems that are burdensome and create friction. Vendict’s new platform aims to address these challenges by using AI to automate assessments, making vendor evaluations faster, more precise, and centered around building trust.
Addressing the Challenges of Third-Party Risk
Many existing TPRM solutions fall short by creating inefficiencies and delaying business decisions. Most rely on either superficial security ratings or extensive questionnaires that demand considerable time and resources from both parties. This often leads to friction and frustration, with vendors seen more as risks than partners.
Vendict aims to change that. “Today’s solutions fall into two categories: Security ratings, which offer quick but superficial external assessments, and questionnaire-based solutions, which provide deeper, inside-out insights but are time-consuming and depend on the third party’s cooperation,” said Udi Cohen, Vendict’s CEO and Co-Founder. “Vendict revolutionizes this process by delivering immediate, thorough, and trustworthy inside-out analysis, using certified evidence and documentation, like SOC-2 reports, to ensure a more reliable and efficient evaluation of third parties.”
The platform automates security reviews by leveraging existing compliance documentation, reducing repetitive tasks and minimizing delays. This approach allows vendors to focus more on securing the company rather than getting bogged down by redundant procedures, ultimately improving collaboration and trust.
From Risk Management to Relationship Management
A core philosophy behind Vendict’s new platform is a shift from “Third-Party Risk Management” to “Third-Party Relationship Management.” This mindset positions vendors as essential business partners, not just entities to be evaluated and controlled. The platform introduces the GRC AI Mentor, which reviews the quality of responses, provides guidance, and helps vendors address potential gaps in real-time.
This “trust but verify” approach makes it easier for vendors to demonstrate compliance without repeatedly responding to identical queries. Vendict’s solution transforms vendor management into a partnership-building tool by simplifying the process and promoting transparency, thereby establishing the foundation for long-term, strategic relationships.
Many companies view security questionnaires as a frustrating entry point in vendor relationships. Vendict’s platform streamlines this first touchpoint, reducing friction and ensuring that the focus remains on security and compliance, not procedural bottlenecks. This proactive engagement lays the groundwork for stronger, more resilient business relationships.
AI-Powered Precision and Expertise
At the heart of Vendict’s platform is its advanced AI technology, which is capable of analyzing entire tech supply chains in minutes. The AI engine, designed by Vendict’s team of AI researchers and GRC professionals, not only automates document analysis but also interprets and validates critical information. This results in more comprehensive insights that allow companies to make better, faster decisions.
The AI’s ability to work with existing documentation—like SOC-2 reports—reduces the reliance on manual, time-consuming tasks. This automation speeds up compliance efforts while ensuring a higher level of trust and accuracy. Vendict’s focus on combining AI-driven precision with deep GRC expertise ensures that its platform addresses both the technical and human elements of risk management.
A Strategic Shift in TPRM
With the launch of this next-generation TPRM platform, Vendict aims to redefine industry standards. Co-founders Udi Cohen and Michael Keslassy have focused on solving the long-standing pain points in vendor risk management by creating a solution that not only meets compliance requirements but also supports strategic growth.
The emphasis on transforming security from a source of friction into a foundation for partnership makes Vendict’s platform a potential game-changer. As businesses face growing complexities in managing vendor risk, Vendict’s trust-first approach offers a pathway to more effective, sustainable relationships that help organizations thrive in a fast-paced, interconnected world.
Published by: Josh Tatunay
