RiskWatch Vendor Risk Management vs RiskXchange

RiskWatch Vendor Risk Management helps organizations identify, assess, monitor, and report risks from vendors and other third parties. It assigns vendors to Tier 1, Tier 2, or Tier 3, then uses the tier to set questionnaire depth and reassessment cadence. Teams can use libraries covering SIG, CAIQ, and NIST 800-161 or upload custom questionnaires. Vendors respond through a portal, where they can complete questionnaires and attach SOC 2 reports; a parser extracts criteria, exceptions, CUECs, and gap findings from Type 1 and Type 2 reports and maps them to the customer's control library. Risk scoring covers eight categories, from cybersecurity and compliance to fourth-party risk. Monitoring integrations include BitSight, SecurityScorecard, sanctions watchlists, news feeds, and breach databases. Reports include vendor scorecards, portfolio rollups, and regulatory exam packs, with PDF and Excel exports. Mappings cover frameworks and regulations including ISO 27036, DORA, HIPAA, PCI DSS, and SOC 2. RiskWatch lists Android, iOS, API, self-hosted, and web platforms. Pricing is by request; a 7-day trial requires no credit card.

RiskXchange is a third-party risk management platform that combines external security ratings with vendor evidence and ongoing monitoring. Its outside-in network covers more than five million companies, according to the company. The platform scores risk from 0 to 900 and includes dark-web breach correlation, compliance mapping and remediation tracking. Its Agency comprises five lead agents and 27 specialists for tasks including onboarding vendors, assessing evidence, monitoring, remediation and regulatory reporting. NOVA can contact vendors by email, WhatsApp or in-app chat; customers can pause contact for an individual vendor. Integrations include Jira, ServiceNow, Archer, OneTrust, Slack and Microsoft Teams. Professional and Enterprise include a REST API, and webhooks support event-driven workflows. RiskXchange says it holds ISO 27001 and SOC 2 Type II certifications, with regional hosting in the UK, EU and US and tenant data held in the selected region. Plans start at £14,900/yr; a free SnapShot evaluates one live vendor and provides a posture report within 24 hours.