Halo Ai: Vendor Analysis — Third-party risk management solution overview, roadmap, competitors, use considerations, analyst summary

This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party risk management.

Third-party risk management (TPRM) is often an afterthought for organizations or a measure only taken after a risk event occurs. However, third party risk management should be implemented in every procurement department, as regulations and the uncertainties of the post-pandemic era are making these issues around compliance, data security, supply chain resilience and business continuity increasingly important.

Halo Ai was founded to assist organizations with their third-party risk management problems by consolidating supplier data into one platform, gathering supplier information automatically and assessing risk for suppliers automatically. Specifically, Halo Ai aims to become a one-stop-shop for its customers that covers all kinds of third-party risk management. Currently, as a new product that launched in 2023, it already covers risks associated with financials, cyber, geopolitics, compliance, sanctions, diversity and customer sentiment.

This Vendor Analysis explores Halo Ai’s platform, application and supporting services. It also offers a competitive market analysis and key analyst takeaways.

Here’s why Halo Ai Matters:

To the market — Halo Ai aims to become a one-stop-shop for TPRM so organizations do not need multiple point solutions.

To customers — Halo Ai serves customers in North America and Canada and maps the supply chain to the fourth tier.

To potential buyers — Halo Ai’s founder has a background in procurement and has built the tool with procurement in mind and to replace current TPRM and GRC point solutions.