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Cyber Third Party Risk Management Tool

British Business Bank

This public procurement record has 1 release in its history.

Award

19 Oct 2026 at 08:17

Award Notice
Summary of the contracting process

British Business Bank PLC procured a cyber third-party risk management tool, an IT software service for automating and managing cybersecurity risks across its supply chains. The tool is intended to improve the bank’s engagement with suppliers and support compliance within those supply chains. The procurement is classified as a service, and delivery is listed in the United Kingdom. The requirement centres on software that helps the bank oversee cyber risks associated with third parties, rather than a general cybersecurity service. Small and medium-sized enterprises were considered suitable to compete. This gives software providers focused on supplier risk management, cyber-risk oversight and supply-chain compliance a clear indication of the type of capability the buyer sought.

The procurement is complete and was awarded to Softcat PLC. The award was made on 24 April 2026, with a value of £162,481.12. The contract period runs from 14 May 2026 to 13 May 2028. The buyer used a limited competitive quotation process below the procurement threshold. The tender submission deadline was 18 March 2026 at 17:00. The published procurement value was also £162,481.12. The requirement was presented as a single cyber third-party risk management tool, with no separate lots recorded. No award evaluation criteria are stated in the available process details, so the basis used to compare quotations cannot be described here.

For suppliers who did not win, this award demonstrates British Business Bank PLC’s demand for software to automate third-party cyber-risk management and strengthen supplier engagement and supply-chain compliance. A credible competitor for the same requirement would need to show that its tool can manage cybersecurity risks linked to third parties and support these supply-chain objectives. The process was run through competitive quotation below the threshold, and small and medium-sized businesses were considered suitable, indicating that this type of requirement is not confined to large suppliers. The successful award provides a concrete example of the scale of software service and the focused risk-management capability the buyer selected. Suppliers with directly relevant product capability are best placed to compete when this specific requirement next comes to market.

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Notice Information

Notice Title

Cyber Third Party Risk Management Tool

Notice Description

Cyber TPRM (Third-Party Risk Management) Tool to automate and manage cybersecurity risks, to improve our engagement and compliance within our supply chains.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b7eb6274-7ff5-408b-b3d3-bf1784162f35
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e7b8d1ed-8270-42b8-bf46-7ce7ecd5f7d6
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Competitive quotation (below threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

CPV Codes

48517000 - IT software package

Notice Value(s)

Tender Value
£162,481 £100K-£500K
Lots Value
Not specified
Awards Value
£162,481 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
19 Oct 20261 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
24 Apr 20266 months ago
Contract Period
14 May 2026 - 13 May 2028 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
British Business Bank
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SHEFFIELD
Postcode
S3 8NH
Postcode Area
Sheffield
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE32 Sheffield
Delivery Location
Not specified
Local Authority
Sheffield
Electoral Ward
City
Westminster Constituency
Sheffield Central

Supplier Information

Number of Suppliers
1
Supplier Name

Softcat Plc

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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