Copla, a GRC (Governance, Risk, and Compliance) automation platform, today announced the launch of its third-party risk management software, built for any company managing vendor risk and third-party relationships across procurement, IT, legal, and compliance, not only regulated financial entities.
Regulatory pressure on third-party oversight is not confined to one sector. The World Economic Forum’s Global Cybersecurity Outlook 2025 found that 69% of organisations consider regulations too complex or too numerous, or struggle to verify whether their third-party suppliers meet requirements at all. For most companies, the gap comes down to the same four issues: risk monitoring that runs annually rather than continuously, onboarding and document collection that depends on manual chasing, reporting prone to the errors introduced by copying data between spreadsheets, and risk building up several tiers into a subcontractor chain that no single register was built to show.
The pressure is most acute in regulated industries. Financial entities operating under the EU’s Digital Operational Resilience Act (DORA), for example, must maintain a continuously updated Register of Information on their ICT third-party providers, not simply file one once a year.
Readiness for that requirement has been mixed: in the European Supervisory Authorities’ 2024 dry-run exercise, only 6.5% of nearly 1,000 firms tested passed all required data quality checks, and separate research found that only 8% of financial entities reported full compliance with DORA’s third-party risk-management requirements, with 46% naming the register as the hardest requirement to meet. The underlying problem, tracking vendor relationships, certifications, and contract terms without a shared source of truth, is not exclusive to finance.
“Manual monitoring assumes risk waits for the calendar. In practice, certifications lapse on their own schedule, vendors get breached mid-quarter, and by the time an annual review catches it, the gap has usually been open for months. We built the software to close that gap: to track third-party risk as it changes, flag it as it happens, and keep the record current enough that an audit never starts with a scramble,” said Aurimas Bakas, CEO and co-founder at Copla.
Copla’s third-party risk management software gives any company managing external vendors a single system for onboarding, risk evaluation, and ongoing monitoring, in place of the fragmented registers, spreadsheets, and email threads most teams currently rely on. It covers vendor inventory and onboarding with document collection, questionnaire automation, approval routing across the teams involved, risk evaluation across six domains, certification tracking with
expiry alerts, breach and dark-web risk monitoring, contract lifecycle management, and an audit-ready change record.
Copla’s third-party risk management software is available immediately to companies of any size managing vendor relationships.
About Copla
Copla is a GRC and compliance automation platform for companies across Europe managing the growing complexity of compliance requirements. It combines automation and AI with hands-on guidance from its own CISO experts, going beyond evidence collection to run the full GRC cycle: framework compliance, third-party risk, and multi-entity oversight. With Copla, compliance stays current, prioritises real risk over ticking framework boxes, and adapts to how an organisation actually operates rather than forcing it into a generic template. The result: audit-ready every day, not just certified.