How Vendor Manager Helps You Streamline Vendor Management and Boost Efficiency

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Financial institutions often face the challenge of managing vendors with limited staff and resources. Strunk’s latest enhancements in Vendor Manager are designed to address these pain points, making thorough compliance and document tracking easier and more efficient than ever. Here’s a summary of the latest available features:

  • A new document status color-coding system provides a quick, visual way to assess the status of each vendor document, meaning less time spent searching for what needs attention.
  • An enhanced request and update workflow allows users to update multiple documents at once and manually send document update requests with a single click. Automated email reminders keep vendors on track, while the option to disable them or send manual requests gives you flexibility. The system auto-populates request dates, helping you stay organized without extra effort.
  • View an auto-generated list of suggested due diligence documents for each vendor, tailored to their assessed risk level. A convenient strike-through appears on the checklist as documents are added, providing an instant visual of completion. All due diligence documents, regardless of where or when they were added, will appear on the Due Diligence Materials tab for a centralized view.
  • The Overdue Items Report is another valuable addition. With this targeted visibility, users can quickly see which vendors require attention and ensure that overdue items are resolved. The report details specific actions needed for each vendor, sortable by risk level, allowing you to prioritize efforts and focus on what is most critical.

These updates make Strunk’s Vendor Manager an even more powerful tool, helping institutions save time, reduce manual work, and keep vendor documentation processes running smoothly. The intuitive interface and automation free up staff to focus on what matters most – building relationships and supporting your community.

If you have any questions about using the new features in Vendor Manager, please contact Strunk Support at support@strunkaccess.com for more details.

 

An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.