As organizations increasingly rely on external vendors, managing third-party risks is no longer optional; it’s a strategic imperative. Vendor-related risks can expose enterprises to significant financial and reputational damage, from data breaches and operational failures to regulatory non-compliance.
This guide explores the Best Third-Party Risk Governance Tools of 2025, helping IT and procurement teams automate due diligence, monitor vendor performance, and align with frameworks like ISO 27001, SOC 2, NIST, and GDPR.
Whether you're overseeing IT vendor risk, managing contract compliance, or planning IT procurement in 2025, this list covers tools that are trusted by enterprises and backed by reviews from G2, Gartner, and Forrester.
What is third-party risk governance?
Third-party governance involves an organization's policies, procedures, and processes to manage relationships with external entities such as suppliers, vendors, consultants, and service providers. These relationships, while crucial to the business operation, can introduce risks.
What is the TPRM tool?
Third-party risk management (TPRM) focuses on identifying and reducing risks using third parties (sometimes vendors, suppliers, partners, contractors, or service providers).
What is a TPRM framework?
A third-party risk management framework analyzes and controls risks associated with your third-party vendors or service providers. These risk profiles could include unnecessary access to your intellectual property or other sensitive information and operational and financial risks.
Is Jira a Risk Management Tool?
When managing risks, Jira offers a robust platform with various features that help project managers track and mitigate potential issues. Configuring dedicated Jira plugins for optimal risk management can further enhance their effectiveness.
Why Third-Party Risk Governance Is Critical?
Overview: A leading platform for third-party risk management, privacy, and security compliance.
OneTrust Pricing: Modular enterprise pricing is available upon request.
OneTrust Licensing Options: License by module and usage volume (vendor-managed).
Best Use Cases: Enterprises managing hundreds of global vendors.
Pros: Privacy + risk governance in one suite. Continuous monitoring of vendor risk posture
Cons: Premium cost for smaller teams
G2 Rating: 4.4/5 | Gartner: 4.3/5
Screenshot:
Overview: Delivers automated third-party risk assessments, monitoring, and contract lifecycle management.
Prevalent Pricing: Tiered pricing based on vendor count.
Prevalent Licensing Options: SaaS licensing with industry-specific packages.
Best Use Cases: Highly regulated industries (finance, healthcare, defense).
Pros: Prebuilt risk templates (NIST, ISO, SIG). Built-in breach monitoring
Cons: Reporting can be complex without training
G2 Rating: 4.5/5 / Gartner Rating: 4.2/5
Screenshot:
Overview: An enterprise-grade integrated risk management solution with strong third-party risk governance modules.
Archer Pricing: Custom enterprise pricing.
Archer Licensing Options: Modular licensing by use case (TPRM, audit, risk).
Best Use Cases: Large enterprises needing full-spectrum GRC.
Pros: Cross-functional governance tools. Granular access control and risk scoring
Cons: Long implementation cycles
G2 Rating: 3.6/5 / Gartner Rating: 4.1/5
Screenshot:
Overview: Cloud-native platform focused on third-party risk assessments, automated workflows, and vendor performance metrics.
ProcessUnity Pricing: Available on request; usage-based pricing.
ProcessUnity Licensing Options: Per-user or per-process module licensing.
Best Use Cases: Procurement teams in midsize to large orgs.
Pros: Built-in SIG questionnaire support. Workflow automation for approvals
Cons: UI can be overwhelming for new users
G2 Rating: 4.5/5 / Gartner Rating: 4.3/5
Screenshot:
Overview: Offers external risk ratings by continuously monitoring vendors’ security posture.
RiskRecon Pricing: Based on the number of vendors and risk domains tracked.
RiskRecon Licensing Options: Subscription tiers by vendor portfolio size.
Best Use Cases: Security teams who need cyber risk visibility.
Pros: Lightweight, external scan-based scoring. Daily threat posture updates
Cons: Lacks deep internal vendor compliance controls
G2 Rating: 4.5/5 / Gartner Rating: 4.3/5
Screenshot:
Overview: Cybersecurity rating platform that tracks third-party vendors and correlates security risk with performance metrics.
BitSight Pricing: Premium pricing based on scope and domains.
BitSight Licensing Options: Custom packages for continuous risk monitoring.
Best Use Cases: Security-driven organizations managing cloud vendors.
Pros: Real-time scoring updates. Strong benchmarking capabilities
Cons: Focused on cyber risk only
G2 Rating: 4.6/5 / Gartner Rating: 4.5/5
Screenshot:
Overview: A dynamic vendor risk exchange offering collaborative assessments and risk sharing between customers and vendors.
CyberGRX Pricing: Tiered pricing; vendors can share completed assessments freely.
CyberGRX Licensing Options: Risk exchange subscription + integrations.
Best Use Cases: Procurement teams managing multiple overlapping vendors.
Pros: Shared assessment model saves time. Dynamic risk updates
Cons: Depth of detail may vary by vendor
G2 Rating: 4.5/5 / Gartner Rating: 4.2/5
Screenshot:
Overview: Combines TPRM software and managed services for vendor risk analysis, due diligence, and document review.
Venminder Pricing: Subscription with optional managed service add-ons.
Venminder Licensing Options: SaaS + a la carte services for assessments.
Best Use Cases: Teams without in-house TPRM expertise.
Pros: Extensive risk templates. Access to outsourced experts
Cons: Add-ons can become expensive
G2 Rating: 4.7/5 / Gartner Rating: 4.6/5
Screenshot:
Overview: Simplifies vendor compliance management through configurable assessments and scoring engines.
RiskWatch Pricing: Starting around $200/user/month.
RiskWatch Licensing Options: SaaS per-user licensing.
Best Use Cases: SMBs and risk-focused procurement departments.
Pros: Visual risk scoring. Easy setup for templates
Cons: Limited integrations out-of-the-box
G2 Rating: 4.3/5 / Gartner Rating: 4.7/5
Screenshot:
Overview: Flexible risk management platform offering third-party, IT, and operational risk governance in one place.
LogicGate Pricing: Quote-based; modular licensing model.
LogicGate Licensing Options: Per-app workflows; usage-based add-ons.
Best Use Cases: Customizable TPRM for compliance-heavy industries.
Pros: Drag-and-drop logic for workflows. Suitable for scaling custom risk models
Cons: Requires setup assistance for complex environments
G2 Rating: 4.6/5 / Gartner Rating: 4.6/5
Screenshot:
What are Third-Party Risk Governance Tools?
Third-party risk governance tools are platforms and systems that help organizations manage the risks of engaging external entities, such as suppliers, vendors, and consultants. These tools are essential for ensuring the safety and security of an organization's operations, data, and reputation.
What is the difference between TPRM and GRC?
GRC provides the overarching framework and strategy, while TPRM is a specialized area within GRC that deals specifically with third-party risks. While GRC and TPRM are distinct concepts, they share similarities in their outcomes. Both seek to manage and mitigate risks in their respective environments.
What is the difference between mitigation and remediation in GRC?
While remediation works by directly fixing security gaps and other risks at the source, so that they are eliminated, mitigation reduces the impact of any risks that you can't fix or that might go unnoticed.
What is the difference between GRC and integrated risk management?
GRC covers broad aspects of an organization's governance policies, risk management practices, and compliance needs, while IRM focuses more on risk management.
With growing pressure to safeguard data and ensure regulatory compliance, IT and procurement leaders must prioritize third-party risk governance tools. The solutions listed here help automate risk assessments, track vendor performance, and enable secure procurement decisions.
While these tools manage vendor risk, many organizations struggle with SaaS vendor sprawl, license tracking, and enforcement of procurement policy. That’s where a SaaS Management Platform (SMP) like CloudNuro.ai steps in.
✅ CloudNuro.ai gives you complete visibility into SaaS vendor usage, contract renewals, and policy alignment, making it an ideal partner to your third-party risk tools.
👉 Book a demo with CloudNuro.ai to unify your procurement governance and SaaS risk management.
Request a no cost, no obligation free assessment —just 15 minutes to savings!
Get StartedAs organizations increasingly rely on external vendors, managing third-party risks is no longer optional; it’s a strategic imperative. Vendor-related risks can expose enterprises to significant financial and reputational damage, from data breaches and operational failures to regulatory non-compliance.
This guide explores the Best Third-Party Risk Governance Tools of 2025, helping IT and procurement teams automate due diligence, monitor vendor performance, and align with frameworks like ISO 27001, SOC 2, NIST, and GDPR.
Whether you're overseeing IT vendor risk, managing contract compliance, or planning IT procurement in 2025, this list covers tools that are trusted by enterprises and backed by reviews from G2, Gartner, and Forrester.
What is third-party risk governance?
Third-party governance involves an organization's policies, procedures, and processes to manage relationships with external entities such as suppliers, vendors, consultants, and service providers. These relationships, while crucial to the business operation, can introduce risks.
What is the TPRM tool?
Third-party risk management (TPRM) focuses on identifying and reducing risks using third parties (sometimes vendors, suppliers, partners, contractors, or service providers).
What is a TPRM framework?
A third-party risk management framework analyzes and controls risks associated with your third-party vendors or service providers. These risk profiles could include unnecessary access to your intellectual property or other sensitive information and operational and financial risks.
Is Jira a Risk Management Tool?
When managing risks, Jira offers a robust platform with various features that help project managers track and mitigate potential issues. Configuring dedicated Jira plugins for optimal risk management can further enhance their effectiveness.
Why Third-Party Risk Governance Is Critical?
Overview: A leading platform for third-party risk management, privacy, and security compliance.
OneTrust Pricing: Modular enterprise pricing is available upon request.
OneTrust Licensing Options: License by module and usage volume (vendor-managed).
Best Use Cases: Enterprises managing hundreds of global vendors.
Pros: Privacy + risk governance in one suite. Continuous monitoring of vendor risk posture
Cons: Premium cost for smaller teams
G2 Rating: 4.4/5 | Gartner: 4.3/5
Screenshot:
Overview: Delivers automated third-party risk assessments, monitoring, and contract lifecycle management.
Prevalent Pricing: Tiered pricing based on vendor count.
Prevalent Licensing Options: SaaS licensing with industry-specific packages.
Best Use Cases: Highly regulated industries (finance, healthcare, defense).
Pros: Prebuilt risk templates (NIST, ISO, SIG). Built-in breach monitoring
Cons: Reporting can be complex without training
G2 Rating: 4.5/5 / Gartner Rating: 4.2/5
Screenshot:
Overview: An enterprise-grade integrated risk management solution with strong third-party risk governance modules.
Archer Pricing: Custom enterprise pricing.
Archer Licensing Options: Modular licensing by use case (TPRM, audit, risk).
Best Use Cases: Large enterprises needing full-spectrum GRC.
Pros: Cross-functional governance tools. Granular access control and risk scoring
Cons: Long implementation cycles
G2 Rating: 3.6/5 / Gartner Rating: 4.1/5
Screenshot:
Overview: Cloud-native platform focused on third-party risk assessments, automated workflows, and vendor performance metrics.
ProcessUnity Pricing: Available on request; usage-based pricing.
ProcessUnity Licensing Options: Per-user or per-process module licensing.
Best Use Cases: Procurement teams in midsize to large orgs.
Pros: Built-in SIG questionnaire support. Workflow automation for approvals
Cons: UI can be overwhelming for new users
G2 Rating: 4.5/5 / Gartner Rating: 4.3/5
Screenshot:
Overview: Offers external risk ratings by continuously monitoring vendors’ security posture.
RiskRecon Pricing: Based on the number of vendors and risk domains tracked.
RiskRecon Licensing Options: Subscription tiers by vendor portfolio size.
Best Use Cases: Security teams who need cyber risk visibility.
Pros: Lightweight, external scan-based scoring. Daily threat posture updates
Cons: Lacks deep internal vendor compliance controls
G2 Rating: 4.5/5 / Gartner Rating: 4.3/5
Screenshot:
Overview: Cybersecurity rating platform that tracks third-party vendors and correlates security risk with performance metrics.
BitSight Pricing: Premium pricing based on scope and domains.
BitSight Licensing Options: Custom packages for continuous risk monitoring.
Best Use Cases: Security-driven organizations managing cloud vendors.
Pros: Real-time scoring updates. Strong benchmarking capabilities
Cons: Focused on cyber risk only
G2 Rating: 4.6/5 / Gartner Rating: 4.5/5
Screenshot:
Overview: A dynamic vendor risk exchange offering collaborative assessments and risk sharing between customers and vendors.
CyberGRX Pricing: Tiered pricing; vendors can share completed assessments freely.
CyberGRX Licensing Options: Risk exchange subscription + integrations.
Best Use Cases: Procurement teams managing multiple overlapping vendors.
Pros: Shared assessment model saves time. Dynamic risk updates
Cons: Depth of detail may vary by vendor
G2 Rating: 4.5/5 / Gartner Rating: 4.2/5
Screenshot:
Overview: Combines TPRM software and managed services for vendor risk analysis, due diligence, and document review.
Venminder Pricing: Subscription with optional managed service add-ons.
Venminder Licensing Options: SaaS + a la carte services for assessments.
Best Use Cases: Teams without in-house TPRM expertise.
Pros: Extensive risk templates. Access to outsourced experts
Cons: Add-ons can become expensive
G2 Rating: 4.7/5 / Gartner Rating: 4.6/5
Screenshot:
Overview: Simplifies vendor compliance management through configurable assessments and scoring engines.
RiskWatch Pricing: Starting around $200/user/month.
RiskWatch Licensing Options: SaaS per-user licensing.
Best Use Cases: SMBs and risk-focused procurement departments.
Pros: Visual risk scoring. Easy setup for templates
Cons: Limited integrations out-of-the-box
G2 Rating: 4.3/5 / Gartner Rating: 4.7/5
Screenshot:
Overview: Flexible risk management platform offering third-party, IT, and operational risk governance in one place.
LogicGate Pricing: Quote-based; modular licensing model.
LogicGate Licensing Options: Per-app workflows; usage-based add-ons.
Best Use Cases: Customizable TPRM for compliance-heavy industries.
Pros: Drag-and-drop logic for workflows. Suitable for scaling custom risk models
Cons: Requires setup assistance for complex environments
G2 Rating: 4.6/5 / Gartner Rating: 4.6/5
Screenshot:
What are Third-Party Risk Governance Tools?
Third-party risk governance tools are platforms and systems that help organizations manage the risks of engaging external entities, such as suppliers, vendors, and consultants. These tools are essential for ensuring the safety and security of an organization's operations, data, and reputation.
What is the difference between TPRM and GRC?
GRC provides the overarching framework and strategy, while TPRM is a specialized area within GRC that deals specifically with third-party risks. While GRC and TPRM are distinct concepts, they share similarities in their outcomes. Both seek to manage and mitigate risks in their respective environments.
What is the difference between mitigation and remediation in GRC?
While remediation works by directly fixing security gaps and other risks at the source, so that they are eliminated, mitigation reduces the impact of any risks that you can't fix or that might go unnoticed.
What is the difference between GRC and integrated risk management?
GRC covers broad aspects of an organization's governance policies, risk management practices, and compliance needs, while IRM focuses more on risk management.
With growing pressure to safeguard data and ensure regulatory compliance, IT and procurement leaders must prioritize third-party risk governance tools. The solutions listed here help automate risk assessments, track vendor performance, and enable secure procurement decisions.
While these tools manage vendor risk, many organizations struggle with SaaS vendor sprawl, license tracking, and enforcement of procurement policy. That’s where a SaaS Management Platform (SMP) like CloudNuro.ai steps in.
✅ CloudNuro.ai gives you complete visibility into SaaS vendor usage, contract renewals, and policy alignment, making it an ideal partner to your third-party risk tools.
👉 Book a demo with CloudNuro.ai to unify your procurement governance and SaaS risk management.
Request a no cost, no obligation free assessment —just 15 minutes to savings!
Get Started
CloudNuro Corp
1755 Park St. Suite 207
Naperville, IL 60563
Phone : +1-630-277-9470
Email: info@cloudnuro.com
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Recognized Leader in SaaS Management Platforms by Info-Tech SoftwareReviews
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