CTG, an IT solutions and services company, announced it hasdeveloped a new software solution, the CTG Risk Profile Manager(RPM), which provides organizations with vendor riskassessment and management.

"Managing external vendor or supplier risk is vital toprotecting an organization's reputation, data and operations, andensuring regulatory compliance, says Michael Beekey, managingdirector, CTG Security Solutions. "CTG RPM employs a new generationof business intelligence software and an advanced risk assessmentmethodology which utilizes multi-factor profiles to score andidentify service providers likely to pose the greatest risk to anorganization."

CTG RPM supports vendor risk management across multipleindustries. It is an especially valuable tool for financialservices companies, which are subject to regulatory requirements tohave a formal vendor risk management program. CTG RPM can beleveraged by multiple groups within an organization outside ofenterprise vendor risk management including contracts, finance,audit, and IT.

CTG RPM scores risk for each vendor throughout the entire vendorassessment cycle and manages an organization's risk assessmentworkflow from initial request for information to ongoing vendormonitoring. As a Software as a Service (SaaS) solution, thisproduct allows organizations to buy the services required to meetspecific needs.

CTG RPM pinpoints vendors that pose a potential risk bycombining third-party data with information from the vendors andthe organization, allowing organizations to easily identify at-riskvendors and take appropriate action. During organization-initiatedassessments, CTG RPM provides customizable vendor questionnaires,which include precise, targeted inquiries driven by advancedbusiness intelligence.

The software provides continuous monitoring and updates of thedata, providing organizations with a "real-time" view of theoverall health and risk-level of the vendor, and allowing alertsand notifications to be automatically generated. CTG RPM supportsthe "real time" monitoring of vendors through a comprehensivedashboard view, which displays overall vendor risk, alerts, andstatus of the vendor management lifecycle.