The goal of this article is to provide an overview of Advanced Reporting, where you can access it, and a review of the reports available.
Overview
The Advanced Reporting tool by GRX is your ultimate solution for visualizing Third-Party Portfolio and Individual Third-Party data. With this powerful tool, you can take your third-party risk management to the next level by accessing risk insights, action recommendations, and more, all within the platform.
With reporting on-demand, you can get up-to-date reports immediately to streamline communication and collaboration with your stakeholders, third parties, or the Board of Directors who want to gauge the health of your TPRM program. Plus, you can download reports for your compliance needs as you make risk decisions on vendors.
Visualizations makes data analysis much more exciting with its visually appealing presentation of your vendor-specific or third-party portfolio information. This feature will help you understand the underlying data, make connections, glean insights, and present them to your stakeholders. You will also have access to the raw data for further analysis.
Access
GRX users access ready-made Tableau reports from the ‘Advanced Reporting’ tab in the left-hand navigation menu of the GRX Portal. Users must purchase access to Advanced Reporting.
Even if your organization has purchased Advanced Reporting, your user may have not yet been enabled to access the feature. If a user clicks on the icon who has not been enabled with access, they will encounter the following message.
Users who have access to Advanced Reporting enabled will have a new tab open to the Advanced Reporting home page.
Clicking on the "Advanced Reporting" folder will bring the user to the list of Standard Reports available. Once you click into a report, you can always navigate straight back to this page by clicking the "Advanced Reporting" breadcrumb on the top of the screen after the "Explore / Advanced Reporting / Report Name".
Standard Reports
The Advanced Reporting feature provides predetermined reporting templates selected by popular demand and designed to meet your needs. These standard reports include the Third Party Portfolio Executive Overview, Third Party Portfolio Continuous Monitoring, Third Party Portfolio Recommendations, Third Party Portfolio Inherent Risk Reduction, Third Party Portfolio Relationship and Assessment Snapshot, and the Third Party Risk Analysis. Plus, we'll keep adding more reports over time.
Most of the standard reports come with a "Descriptions" section that includes a report overview as well as a data dictionary to help understand the fields provided in each report. See below for more information on each standard report.
Third Party Portfolio Executive Overview
- Executive Overview - Title Page
- Executive Overview 1 – General
- Executive Overview 2 – Risk
- Executive Overview 3 - Monitoring
Description: Communicate the state-of-the-state of your Third Party Risk Management program to leadership.
Intended Audience: Executive and /or Board Leadership
Functionality: This report is net new
Third Party Portfolio Continuous Monitoring
- Continuous Monitoring – Summary
- Continuous Monitoring – Descriptions
- Continuous Monitoring – Details
Description: Stay on top of important risk alerts triggered in the last 30 days on companies in your third party portfolio. Understand how those risk rules tie into controls and impacted business assets that may be compromised.
Intended Audience: TPRM team
Functionality: This report enhances the weekly Risk Alerting emails and ‘Potential Risk Alerts’ component on the Third Party Profile -> Monitoring tab
Third Party Portfolio Recommendations
- Recommendations - Summary
- Recommendations - Descriptions
- Recommendations - Details
Description: Manage your portfolio and understand what action to take next for each third party based on their risk data and status. Understand the volume of work needed for your TPRM program and communicate if additional resources are needed to be successful.
Intended Audience: TPRM team, TPRM leadership
Functionality: This report replaces the “PAP” Portfolio Action Plan report manually delivered at customer onboarding and ad hoc via services
Third Party Portfolio Inherent Risk Reduction
- Inherent Risk Reduction – Summary
- Inherent Risk Reduction - Descriptions
- Inherent Risk Reduction - Details
Description: Understand the Inherent Risk and Risk Reduction across your third party portfolio. Work your way down the list, starting with your priority third parties, to determine what can be done to mitigate risk.
Intended Audience: TPRM team working report
Functionality: This report replaces the Portfolio Management -> Inherent Risk Analysis chart
Third Party Portfolio Relationship and Assessment Snapshot
- Snapshot - Descriptions
- Snapshot - Details
Description: Always know the answer to the question “what is the assessment status of that third party?”. Understand where your Assessment Request is, when Assessment Refreshes are underway, and if you need to reach out to the Third Party to encourage progress.
Intended Audience: TPRM team
Functionality: This report enhances the Portfolio Management -> Third Party Portfolio table
Third Party Risk Analysis
- Risk Analysis - Descriptions
- Risk Analysis - Details
Description: Document and understand the risk profile of a Third Party at any stage of their lifecycle in a consumable format, without needing to be a security expert.
Intended Audience: Business Stakeholders, Third Party Relationship Managers, TPRM Leadership
Functionality: This report replaces the lengthy legacy PDF Assessment report, that is only available for completed assessments
Comments
0 comments
Article is closed for comments.