Concentration Risks pursuant to DORA, MaRisk and MaGo
100% transparency of all third parties and the entire supply chains. Digital management of concentration risks.
IQRisk provides an efficient way to automatically identify concentration risks based on existing data—tailored to your company. These functions enable you to systematically detect and assess unwanted risks with third parties and across the entire supply chains, allowing timely risk mitigation measures.
Identification of Concentration Risks
Concentration risks arise when your company is heavily dependent on a few sources–whether suppliers, customers or markets. Our software detects such concentrations and identifies where the risks exist.
In addition to regulatory factors such as difficult substitutability and multiple outsourcing (as required under ICT regulations) it highlights commercially undesirable concentrations. The software provides detailed analyses and visualisations of concentration risks, allowing you to quickly identify where excessive dependency exists. Based on this transparency you can take targeted actions to diversify your outsourcing arrangements and reduce your risks in the long term.
Identify Concentration Risk at the Push of a Button
Identification of dependencies that could jeopardize your company. Initiation of appropriate risk mitigation measures.
Identify Vendor Lock-in and Multiple Outsourcing
100% transparency regarding non-substitutable providers as well as providers awarded multiple and critical functions.
Automate and Digitise Reporting
Fulfillment of all reporting obligations at the push of a button. Modern and audience-appropriate reporting for the executive board.
Comprehensive Overview of all Concentration Risks
Harmonised analysis of concentration risks of IT services in accordance with DORA and of outsourcing activities. Stringent management of overall third-party risk.
Are Risk Analyses pursuant to DORA and MaRisk also supported?
In addition to functionalities for managing concentration risks, IQThirdParty offers integrated risk analysis in accordance with DORA and MaRisk. You can configure the relevant risk parameters. Information already stored in IQThirdParty is automatically routed to the appropriate points in the decision workflow. An example of this is the automatic notification of the assessor if multiple outsourcing arrangements exist for a critical or important function with the provider under review.