4.9/5.0 stars on G2 | Trusted by 8.000+ companies
Full visibility and accountability across the third-party lifecycle
Formalize turns third-party governance into a structured, operational process where ownership is clear, actions are followed through, and every relationship is managed consistently from onboarding to ongoing oversight.
Connect people, processes, and vendors to maintain operational continuity
Third-party management goes beyond onboarding; it requires consistent follow-up and cross-team coordination. Formalize integrates your vendor data, providing total visibility into dependencies, risks, and required actions.
With Formalize, third-party and vendor management becomes:
Transparent
Understand which third-parties and vendors pose the biggest operational and compliance risks giving leadership the insight to prioritize action and maintain continuity
Accountable
Ensure every relationship is actively managed with clear ownership so responsibilities are followed through consistently
Actionable
Focus on the most critical operational and compliance priorities, enabling teams to respond quickly and keep risk under control
Auditable
Maintain a complete and traceable record of third-party activities, making audits and regulatory reviews straightforward without last-minute effort
Features
From onboarding to oversight, fully connected
Maintain a complete and structured third-party overview
Centralize all vendors, suppliers, and ICT providers in one system to maintain operational control, prioritize oversight, and ensure accountability across your organization.
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Understand criticality at a glance by classifying third parties by type, risk, or regulatory relevance
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Ensure clear accountability by assigning owners so responsibilities are tracked and followed through consistently
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Work efficiently with connected data by organizing contracts, SLAs, and operational details in configurable views to speed onboarding and reduce manual effort
Connect third parties to risk and controls
Understand exposure across your organisation, not just per vendor. Third-party risk becomes clear when it’s connected to the rest of your governance system.
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Map third-party risks to compliance tasks and prioritize high-impact mitigation.
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Track the impact of incidents on suppliers in real time to maintain operational continuity and understand effects on risk posture.
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Keep a complete, defensible record of vendor activities and updates so compliance evidence is always ready for audits or reporting.
Track contracts, SLAs, and obligations
Ensure obligations are visible, tracked, and met. Stay on top of critical agreements, deadlines, and service obligations to reduce operational disruption and compliance gaps.
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Maintain oversight of agreements and key dates by capturing contracts, clauses, and renewals.
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Understand how contract terms affect operational or regulatory requirements by linking them to relevant controls.
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Keep policies and regulations aligned across the organization by linking them to controls, tasks, and obligations, with tracked approvals and version history.
Continuous oversight and accountability
Monitor and act on third-party performance and compliance in real time. Use dashboards, reporting, and automation to maintain oversight across all suppliers, contracts, and operational risk areas.
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Prioritize the most critical issues by using dashboards and filtered views by risk, service, or department to identify high-risk suppliers and guide decision-making.
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Prevent missed obligations and stay on schedule with automated deadline monitoring and notifications.
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Ensure consistent follow-through by automating tasks, approvals, and reviews while maintaining a full, traceable record.
"Com o Formalize, entrámos em funcionamento praticamente desde o primeiro dia. Em dois meses, tínhamos todas as nossas necessidades de conformidade cobertas, mesmo durante a época festiva."
Fernando Sanz de Galdeano
CISO, Arcano Partners
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