Selecting the right third-party risk management software is more than just ticking compliance boxes.

After all, with new vendors constantly entering supply chains, risks around cybersecurity, ESG, and financial stability can escalate quickly. 

In this article, we review and compare seven TPRM tools that will safeguard you against costly disruptions and hidden vulnerabilities.

Veridion

Veridion’s AI-powered platform delivers superior third-party intelligence, automated risk monitoring, and more.

With TPRM as one of its key use cases, Veridion enables you to continuously refresh company profiles on a global level and transform raw data into real-time risk insights.

Source: Veridion

Global coverage translates to having access to over 134 million company profiles across 250 countries, with 220+ enriched attributes.

This puts all the essential data right at your fingertips.

Source: Veridion

In addition to quickly retrieving data, Veridion makes sure that insights are structured into clear dashboards with natural language query support.

This makes them usable across various teams within an organization, such as procurement, risk, and compliance.

Key TPRM risk categories include ESG, financial stability, supply chain dependencies, and corporate family linkages.

The platform also enables you to surface product and service level data for closer risk monitoring.

Source: Veridion

And if you’d like to see Veridion’s business data enrichment capabilities in action, check out the video below:

Source: Veridion on YouTube

One limitation to note is that, unlike many of the full-fledged TPRM suites on this list, the platform doesn’t come with built-in risk scoring, remediation workflows, or regulatory compliance automation.

However, one of Veridion’s unique strengths compared to popular TPRM platforms is its Scout Discovery functionality, which makes it a proactive supplier discovery engine.

Source: Veridion

In other words, if an existing supplier shows a deteriorating risk posture, teams can immediately search for alternative candidates that meet compliance, ESG, or operational standards.

It’s also worth noting that Veridion’s APIs and bespoke setup options allow you to embed supplier intelligence directly into your existing procurement, ERP, or risk management systems.

This ensures seamless adoption at scale.

Source: Veridion

Ultimately, Veridion helps organizations move from reactive risk cleanup to proactive supply chain resilience.

If you’re interested in pricing or getting data samples, make sure to get in touch with our team.

SignalX

SignalX is an automated due diligence platform built for procurement and finance teams that manage complex vendor onboarding and transaction workflows.

The platform covers 100M+ data points and 35M+ corporate profiles—an impressive amount, but still smaller than what’s covered by Veridion. 

SignalX consolidates financial, legal, regulatory, and reputational data on your third parties into one structured platform. 

Take a look at their Data Analysis and Risk Terminal below.

Source: SignalX

Supplier evaluation is based on their proprietary 26-parameter risk scorecard that covers essentials like financial stability, reputational signals, compliance discipline, and legal exposure.

Key capabilities include advanced AI analytics, proactive risk alerts, and natural language search, which enable teams to promptly surface a variety of issues.

For instance, the interface gives you an at-a-glance comparison of current and previous year’s financials, helping you catch early signs of financial distress.

Source: Signal X

What’s more, you can easily visualize all your third parties and how they’re connected.

Source: G2

The automated onboarding module enables teams to directly collect and manage all supplier disclosures on compliance, financial status, and more.

You can easily configure workflows to align with internal policies, from escalating vendors with cross-border exposure to tailoring financial thresholds for risk alerts.

Keep in mind that, while SignalX excels in deep background checks and provides data to inform sourcing decisions, it has yet to offer any risk remediation workflows to help you address issues before they escalate.

In terms of pricing, although G2 gives a glimpse of it as it was reported in 2024, reaching out directly is always the safest option. 

Source: G2

To sum up, SignalX reduces the manual burden of third-party vetting, ensuring proactive compliance and ongoing risk monitoring.

Certa

Another AI-driven tool on our list, Certa positions itself as a comprehensive, no-code TPRM platform that covers the full vendor lifecycle.

Source: Certa 

The key industries Certa caters to are financial services, life sciences, and aerospace and defense, but its key offerings have a broader application.

Why?

Compared to SignalX’s in-depth background checks that allow some flexibility, Certa puts greater focus on customizable workflows that require no IT involvement.

Users can configure custom risk scoring models, embed policy-driven questionnaires, and automate compliance checks across ESG, financial, and regulatory categories.

As you can see below, a simple inquiry in plain English is enough to start (re)defining your key processes.

Source: Certa on YouTube

Certa’s workflow builder supports effortless drag-and-drop customization and comes with a number of pre-built templates, including those for remediation actions.

The platform’s strong focus on ESG and compliance management is also worth noting.

For example, teams can deploy ESG-specific assessments during onboarding or set alerts for changing regulations to ensure up-to-date vendor scorecards.

Source: Certa

Certa comes with pre-built connectors to major ERP, procurement, and CRM systems, but the no-code approach still requires some upfront configuration effort.

These are also the only major issues raised by reviewers on sites like G2.

Source: G2

In terms of pricing, they offer a yearly plan, but that’s all the information available online. 

You’ll need to request a quote directly to get a sense of which modules you can combine and at what price.

The final verdict? 

If you’re willing to invest the time, Certa offers a highly tailored TPRM environment that you can scale globally.

Aravo

Aravo is an enterprise-grade TPRM platform trusted by companies like Microsoft and Google and built to enforce consistent risk and compliance standards across global supplier networks. 

Source: Aravo

Instead of workflow design capabilities, Aravo emphasizes governance structures in the sense of predefined templates, approval hierarchies, and audit trails, ensuring that compliance obligations aren’t bypassed.

Organizations get a risk summary at a glance, with the most relevant information like high-risk suppliers and top risk areas highlighted on the interface.

Source: Capterra

While the layout looks dated, the latest video on Aravo’s website suggests that it went through a more modern overhaul recently, including an AI upgrade.

Here’s one section of the new dashboard, listing the expected approval time for third-party risk screening.

Source: Aravo

Keep in mind that even the old interface’s ease of use was rated moderately high on Capterra and likewise praised by G2 users.

The ease of use rating also ties to available integrations.

Those using solutions like SecurityScorecard and EcoVadis Sustainability Intelligence Suite will be glad to know they can connect these systems seamlessly.

Source: GetApp

The only issues appear to be general system reliability, with automatic sign-off when left idle, as well as slowness in managing multiple tabs.

Source: G2

Keep in mind, however, that this is still a very small sample, with three reviews on G2 and only a single review on Capterra.

Pricing is not publicly disclosed in line with Aravo’s enterprise positioning, but you can always reach out directly or simply schedule a personalized demo.

In the end, you can’t discount Aravo’s reputation among big players. 

If your priorities include governance and consistency across the globe, this software is definitely worth checking out.

SAI360

SAI360 is an integrated risk management suite with a strong focus on continuous third-party monitoring. 

While often categorized as a Governance, Risk, and Compliance (GRC) tool, its breadth makes it suitable for different industries, from finance to manufacturing.

Here’s a glimpse of the SAI360 dashboard.

Source: SAI360

Unlike some competitors, SAI360’s AI capabilities were added more recently, but they now automate due diligence reviews, reassessments, and reminders to keep programs moving. 

Users can trigger alerts when vendor risk scores shift or documents expire, thus ensuring that risks don’t fall through the cracks, as well as delivering strong reporting and audit trails.

Beyond TPRM, SAI360 offers 22 separate modules.

Source: SAI360

One of the most distinctive ones is Incident Management, which automates intake, investigation, and response workflows for faster, more consistent handling. 

Incident data can be tied directly to broader GRC elements—risks, policies, and controls—to give teams a deeper insight into root causes and potential impacts.

Source: SAI360

Visualization and reporting capabilities count among SAI360’s key strengths. 

Dashboards let users analyze incident trends across business units, control failures, or incident types, enabling proactive mitigation rather than reactive fixes. 

The software’s extensive customizations and overall flexibility are consistently praised. 

However, as one reviewer noted, the level of customization required a dedicated team to fine-tune the backend, adding time and resource costs.

Source: G2

The pricing isn’t publicly listed, but SAI360 offers a demo on request. 

But given its modular, enterprise-grade design, organizations should expect a higher cost, particularly when rolling out multiple modules.

The best way to summarize SAI360 is as a broad GRC platform with TPRM as one of its core offerings.

Ultimately, this makes it attractive to companies looking for vendor monitoring in the wider context of risk governance and compliance.

Venminder

Venminder combines a TPRM SaaS platform with optional managed services, making it a strong fit for highly regulated industries like finance or healthcare. 

Compared with broad GRC suites like SAI360 or governance-heavy Aravo, Venminder is narrower by design, but provides deeper third-party oversight.

Core features cover vendor issue tracking, contract management, SLA monitoring, and automated risk questionnaires, as presented in the product walk-through below.

Source: Venminder on YouTube

Companies can use Venminder’s built-in templates that cover information security, business continuity, ESG, NIST, and more, or upload their own.

The distribution itself is fully automated, from selecting recipients and templates to crafting custom messages.

This enables users to run periodic reassessments at scale.

Source: Venminder

When it comes to risk analysis, you can set weighting, point values, omit/exclude questions from scoring, and define thresholds for escalation.

The downside?

Venminder’s strength in questionnaires and program execution comes with fewer native enterprise GRC controls like cross-module governance/analytics.

As such, some organizations will probably rely on integrations for broader risk reporting.

An older user review from Capterra also highlighted a couple of recurring usability concerns.

Source: Capterra

Still, Venminder’s responsiveness and readiness to introduce updates driven by client input are one significant factor behind their high customer service rating.

When it comes to pricing, it isn’t publicly listed. 

You can preview capabilities for Professional vs. Enterprise tiers and add optional modules, but you’ll need to request a quote.

Source: Venminder

If you want a purpose-built TPRM platform with strong questionnaires, prioritization, and optional expert support, Venminder is a compelling choice.

Business Radar

Business Radar continuously screens global news and public data sources to flag adverse media, ESG violations, legal exposure, and supplier instability. 

The platform aggregates data from 1,200+ sanctions and enforcement lists, politically exposed person (PEP) registries, and diverse adverse media signals in over 108 languages.

What sets Business Radar apart is its sentiment-tracking engine that enables users to anticipate reputational shifts before they escalate.

Source: G2

To put it differently, if SignalX is all about structured due diligence investigations, then Business Radar shines in ongoing monitoring and the overall breadth of coverage.

The platform also supports highly configurable alerts.

Users can filter by 100+ risk categories, apply jurisdiction-specific filters by country, and assign alerts across entire industries or only on selected portfolios.

Source: Business Radar

Smart Alert-Count Prediction shows how many articles your settings would have triggered in the past 30 days, so you can instantly reconfigure them and filter out the noise.

Combined with the Event Timeline, which clusters articles by topic and volume, teams can visually track spikes in risk-related news and flag underlying drivers within seconds.

Naturally, since Business Radar focuses heavily on monitoring, its main drawback is that it offers fewer workflow and integration capabilities than full-suite TPRM platforms like Certa or Aravo.

Some users also had minor issues during the initial setup.

While you’ll still have to contact the Business Radar team for pricing, a helpful preview of what’s included in each plan is available on the web.

Source: Business Radar

The cheapest offer starts at 450 EUR per month, so if you’re on the lookout for solutions that will help you spot risks and automate checks, Business Radar might be an option worth considering.

Conclusion

Each of these seven TPRM platforms brings distinct strengths, from AI-driven supplier intelligence to enterprise-wide monitoring and customizable workflows.

Choosing the right one depends on whether your priority is automation, breadth of risk coverage, or deeper vendor intelligence. 

Keep in mind that screenshots of web sections and dashboards tell only part of the story, so be sure to test usability, explore integrations, and request demos. 

Ultimately, the best TPRM tool for you will fit like a glove when it comes to managing current vendor risks, but also scale to meet tomorrow’s challenges.