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ENGAIZ Launches its AI-Driven Integrated Third-Party Vendor Engagement, Relationship

ENGAIZ, a North American technology startup with offices in Toronto and New York, has launched a ground breaking AI-Driven SaaS Integrated Third-Party Engagement platform to help enterprises identify and mitigate third-party vendor risks including cybersecurity, data privacy, Regulatory, Financial, Performance, Business Resiliency with innovative, comprehensive risk and relationship management frameworks. The company aims to create true value and help enterprises meet business objectives by effectively engaging, governing and managing risks with third party vendors.

“Digitally transforming organizations are increasingly dependent on third parties of varying sizes. A shift from pure ‘Cost’ focus to a cost plus ‘Shared Risk’ & ‘Value’ focus when engaging with strategic third-party vendors seem to be imminent. This has led us to bring to the market an AI-Driven Integrated Third-Party Engagement Platform that combines Vendor Relationship & Engagement with strong Risk Management,” says Jai Chinnakonda, Founder & CEO of ENGAIZ. He further added, “This unique integrated approach is our core differentiator.”

IDC has recently published a Technology Spotlight Report on ENGAIZ and per the report IDC believes that with its AI-Driven “Integrated Third-Party Engagement Platform,” ENGAIZ will be able to address many of the third-party governance, relationship and risk management challenges, giving it a significant opportunity to help organizations drive excellence and innovation with their strategic relationships.

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The platform delivers a comprehensive approach to third-party vendor risk and relationship management.

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  • Strategic Vendor Engagement – ‘Out of the box’ solution to engage and govern Third-Party Relationships
  • Third Party Risk Management – Automated risk management and continuous monitoring to Mitigate Risks
  • Strategic Customer Engagement – A secure third-party collaboration portal to help create value by driving Performance and Innovation

“Regulatory bodies are introducing legislation that requires organizations to understand and accept their supply chain’s areas of risk, including cybersecurity and data privacy. This has led to the strengthening of third-party risk management function within organizations. Failure to embrace a technology solution like ENGAIZ will result in poor risk management practices,” says Keith Bowie, a former CIO at a leading financial institution and currently Practice Lead at Fintova LLC and a research scholar at Columbia University.

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“ENGAIZ’s content, capabilities can be easily adapted to fit your needs, making it the best solution on the market today. So if your company is in the market for best-practices content, proven risk identification tools, actionable due diligence and risk ratings, or an AI enabled tool that help you manage contracts, costs, performance and drive innovation, ENGAIZ is the platform for you,” says Linda Tuck Chapman who recently joined ENGAIZ’s Advisory Board and is an Expert, Educator, Author and CEO of Third Party Risk Institute Ltd.

As part of its launch, ENGAIZ is offering special pricing for organizations looking to quickly stand-up or mature their third-party vendor risk and relationship management program with a market-leading technology solution.

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