LockPath, a provider of compliance and risk management software, have announced a new partnership with RiskRecon, a SaaS monitoring solution that delivers risk-prioritized action plans to enable precise, efficient elimination of organizations’ most critical third-party security gaps.

Through this partnership, joint customers of LockPath and RiskRecon will be able to obtain a verifiable assessment of each third-party’s security practices. Customers will then be able to establish a base level of trust and identify specific areas for further discussion, investigation, and assessment.

“With increased pressure for companies to formalize and expand their third-party due diligence practices, this partnership with RiskRecon helps relieve that pressure by giving our customers the tools to identify and proactively mitigate any potential risk or compliance issues,” said LockPath CEO Chris Caldwell. “Our partnership with RiskRecon will give our customers increased visibility into third-party security postures and significantly increase program efficiency through better prioritization of third parties for assessment and remediation.”

The partnership with RiskRecon will help customers add to their third-party due diligence processes by supplementing internally-produced data in LockPath’s Keylight Platform with objective data from RiskRecon. This will help paint a more complete picture of risks that third parties introduce to businesses while enabling smarter, more informed decisions about third-party relationships. In addition, the integration will streamline the third-party risk assessment process by issuing the right type of risk assessments at a frequency reflective of the third party’s risk level.