Summary

In a 2023 EY Global Third-Party Risk Management survey, 63% of organizations plan to integrate external data providers and automation to better manage inherent risk assessment in the next 2-3 years.

Organizations use Clarative’s automated, AI-powered tools to strengthen their risk posture with confidence that something is keeping tabs on their vendors around the clock. Think of it as an 24/7 assistant handling the background monitoring and triaging for you.

How do companies monitor their vendors with Clarative?

The platform’s suite of tools continuously monitors your critical vendors, alerts you to high-risk outages, and delivers recurring digests so you can stay informed without constant oversight.

Teams begin by setting up monitors in Clarative. Out-of-the-box options include public outage pages, negative news, SEC filings, and security breaches. They can also configure synthetic monitors to continuously ping critical pages for incidents that might not appear on public outage reports.

That level of monitoring could create a lot of noise, which is why many teams use AI triaging. This allows Clarative to automatically classify risk events by severity—critical, high, medium, or low.

From there, users set up alerts and digests based on severity levels:

• Alerts: Immediate notifications sent directly to the inbox— often configured for all events of “critical” severity level so they can be addressed quickly.
  

• Digests: Daily or weekly summaries highlighting risk events, notable high/critical incidents, and overall vendor performance. Many teams rely on weekly digests to stay connected to their risk landscape without needing to check in on every vendor day-to-day.

Together, alerts make sure teams are only notified about the most critical incidents, digests keep them aligned with overall vendor performance, and the full record of incidents remains accessible at any time through Clarative’s continuous monitoring platform.

Summary of Benefits

• Proactive Alerting - Be notified of risk events that exceed your threshold before issues escalate
• 24/7 Automated Monitoring - Continuous monitoring via public data and synthetic checks ensures uninterrupted oversight and that nothing slips through the cracks
• Comprehensive Digests - Review overall vendor risk information at-a-glance so that you are always in-tune with your vendor’s performance.

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