Why we built TPRM Pro

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We were tasked with finding a 3rd Party Risk tool.

We hit a bunch of problems:

  1. Lack of engagement/ability to get hold of anyone at these companies.
    Clearly they don’t want your business.
  2. Refusal to share pricing.
    How do they expect anyone to buy their product if they cannot give you pricing? Bizarre!
  3. Refusal to let us demo their product on our own terms (i.e. access to the platform).
    If we cannot test the product why would we buy?
  4. Product features that don’t do much well.
    Lots of jazz hands & FUD, not much substance. What are we really getting for our money?
  5. Product doesn’t do what we need it to do – We needed questionnaires as the base product not an add on.
    Questionnaires are not sexy so most of these tools only focus on intangible data points.
  6. Cost prohibitive.
    We couldn’t put those numbers to our customers.

Overall it left a sour taste in the mouth – there are lots of vendor risk management tools, we spoke to over a dozen of them and none of them could be a partner of choice.

It was surprising to find a field full of 3rd party risk tools that didn’t tick our boxes.

What we found instead was obscure sales interactions, rather than how their tool would help the customer with their vendor risk management.

So we built our own.