In a significant move for the governance, risk and compliance sector, technology firm Complyance has launched a free AI-powered tool that enables businesses to conduct instant vendor risk assessments.
Revolutionising Vendor Due Diligence
The newly released Vendor Risk Scorer represents a major shift in how organisations approach third-party risk management. Previously, comprehensive vendor risk analysis was typically expensive and required substantial manual effort, making it inaccessible to many smaller businesses.
Richa Kaul, CEO of Complyance, explained the thinking behind the public tool: "Vendor risk scoring has always been expensive, manual or both to GRC teams. We built this AI agent to flip that model - making vendor due diligence faster, smarter, and available to all."
How the AI Technology Works
The innovative tool allows GRC teams to conduct live risk scans on vendors and receive immediate, comprehensive risk profiles. This real-time analysis provides businesses with crucial insights that were previously only available through paid enterprise-level solutions.
Beyond the free public version, the vendor risk scoring capability will also be integrated directly within the Complyance platform. This integration enables automated scoring during vendor onboarding processes, significantly reducing the manual workload for compliance teams.
Industry Recognition and Future Plans
The move has been welcomed by investors in the technology sector. Fred Hagenauer, Partner at Speedinvest, commented: "What excites us about Complyance is not just their AI capabilities, but their mission to make it accessible to all. By making critical processes like vendor risk review available to the wider market, Complyance is setting a new standard for accessibility and innovation in Enterprise compliance."
Looking forward, Complyance has ambitious plans to develop one of the world's largest AI-powered vendor risk databases. This initiative promises to provide compliance leaders with an unprecedented resource for managing third-party risk effectively.
This latest release forms part of Complyance's expanding suite of AI agents that are transforming how enterprises approach governance, risk and compliance. The company continues to invest in developing accessible, affordable AI solutions for critical compliance workflows, from vendor questionnaires to external scoring systems.
