Leveraging AI to Transform Third-Party Risk Management
Author: Puja Ghiya, MBA, CSM
Redefining Vendor Risk Oversight in the Age of AI
Let’s face it, third-party risk management can feel like a constant balancing act. Between digging through contracts and combing through SOC reports, it’s easy to get buried in the details and lose time you’d rather spend on higher value efforts. That’s precisely where AI is stepping in to change the game.
We’ve added new AI-driven features to our platform designed to take some of that weight off your shoulders. They’re focused on two big pain points you’ve probably dealt with more times than you’d like: contracts and SOC reports.
1.) Smarter Contract Management
Think about how much time you spend reviewing contracts for risk-related provisions. It’s slow, it’s manual, and honestly, it’s not the most exciting part of the job. Now, instead of flipping page after page, you can upload a contract into the platform and let AI do the heavy lifting.
It scans the document for you, highlighting the data security clauses, termination rights, liability caps, and other key terms that really matter for risk. What you get back is a clear view of the essentials, allowing you to focus on making informed decisions, rather than parsing legal language. Faster reviews, fewer missed details, and way more time for strategic work.
2.) Streamlined SOC Report Analysis
SOC reports are a beast of their own. They’re critical, but extracting all those Complementary User Entity Controls (CUECs) is tedious. Miss one, and you risk leaving a gap.
Now, with our AI assistant, you simply upload the SOC report, and it pulls the CUECs out for you. Even better, they can be dropped directly into your risk assessments inside the platform. You can also generate reports on these controls, which gives both you and your auditors a straightforward picture of responsibilities and coverage.
Why This Matters…
At the end of the day, it’s about working smarter, not harder. By weaving AI into these processes, you can:
- Save hours of time on contract and SOC report reviews
- Feel confident that critical provisions and controls aren’t slipping through the cracks
- Strengthen your reporting and audit readiness
AI isn’t here to replace you, it’s here to back you up. Think of it as a trusted partner, helping you build a stronger, more efficient, and more resilient risk management program.