Overview

The Supplier & Third-Party Risk use case helps organizations assess and monitor suppliers, partners, vendors, and other third parties before and during a business relationship.

By combining company information, ownership data, compliance screening, and monitoring, organizations can better understand who they are doing business with and identify potential operational, financial, or compliance risks.

The result is improved risk management, reduced exposure, and greater confidence in third-party relationships.

Business Challenge

Organizations increasingly rely on suppliers, vendors, distributors, and partners to operate their business.

However, these relationships can introduce risks such as:

Financial instability
Fraud
Regulatory violations
Sanctions exposure
Ownership risks
Reputational damage

Manual due diligence processes are often time-consuming and difficult to maintain at scale.

Typical Customers

This use case is commonly used by:

Procurement teams
Large enterprises
Financial institutions
Insurance companies
Government organizations
Compliance teams
Supply chain management teams

Typical Flow

Identify supplier
↓
Retrieve company profile
↓
Perform compliance screening
↓
Determine ownership structure
↓
Assess risk
↓
Start monitoring

Recommended APIs

NL Organizations API

Retrieve company information including:

Registration details
Legal form
Status
Management information
Address information

Compliance Screening API

Screen suppliers and partners against:

Sanctions lists
Politically Exposed Persons (PEP)
Adverse media sources

UBO Investigation API

Understand ownership structures and identify Ultimate Beneficial Owners.

Official Documents API

Retrieve official source documents to support due diligence processes.

Monitoring API

Monitor suppliers and partners for changes that may impact risk.

Examples:

Management changes
Ownership changes
Bankruptcy events
Deregistration events

Business Value

Reduce Third-Party Risk

Identify potential risks before entering into a business relationship.

Improve Compliance

Support supplier due diligence and third-party risk management requirements.

Reduce Manual Work

Automate repetitive checks and monitoring activities.

Continuous Risk Visibility

Stay informed when important changes occur within your supplier network.

Strengthen Governance

Maintain evidence and audit trails to support internal and external reviews.

Example Scenarios

Supplier Onboarding

Assess a new supplier before entering into a commercial agreement.

Vendor Risk Management

Monitor critical vendors for changes that may impact operational risk.

Procurement Due Diligence

Validate ownership structures and screen suppliers against compliance datasets.

Supply Chain Monitoring

Maintain ongoing visibility into important changes across the supplier network.

Related Use Cases

Customer Onboarding & Enrichment
KYC & AML Compliance
UBO Investigation
Continuous Monitoring