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.
Lose The Spreadsheets And Start Tracking Vendors In The Cloud.
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Tired of juggling spreadsheets and devoting too much of your staff resource on vendor management? Let Strunk’s Vendor Manager solve that problem for you. Our comprehensive vendor manager solution includes automated risk assessments, due diligence tracking, SLA monitoring, and contract management. All this at a very affordable price with a money back guarantee.
Keep track of all vendor relationships, including risk level and status
Periodically assess inherent risk from vendor relationship to identify risk areas that require further examination
Automated Vendor Surveys
Generate vendor surveys with questions directly derived from areas of concern identified in the inherent risk assessment.
Evaluate vendor contracts, track performance and manage renewals
Score individual contracts based on presence and quality of key provisions. Complete periodic abbreviated reviews, unless significant changes warrant more extensive vendor evaluation.
Service Level Performance
Track performance on key service level agreements
IN an increasingly interdependent world, your vendors may be one of your biggest sources of risk. Your regulators, customers, and key stakeholders want evidence you are on top of your vendor risk.
Vendor Manager automates a cumbersome process into a well-organized, self-documenting work flow. Use Vendor Manager to:
- Maintain your list of key vendors and associated contacts
- Track the status of all your vendor contracts
- Assess inherent risk presented by each vendor
- Assess residual risk for high risk vendors
- Automate vendor responses to detailed risk assessment questions
- Complete annual contract reviews
- Track performance against key Service Level Agreements (SLAs)
Vendor Manager automates vendor due diligence, providing a practical framework for deciding which vendors to assess in depth, assessing the risks they present, and monitoring their performance.
- Organizes all vendor management in secure, web-hosted database
- Automated inherent and residual risk assessment
- Generates online vendor surveys based on risk assessments
- Tracks contracts, renewal dates, key provisions, and service level performance
- Complies with all regulatory guidelines
When I was Chief Risk Officer at a $750M bank, we implemented Strunk’s ERM Solution. It brought together all areas of the risk assessment process into one easy to use format and we eliminated the Excel spreadsheets. I highly recommend it for any size bank.
Strunk’s implementation of Risk Manager was excellent. Impressive software you all have developed.
Strunk’s Risk Manager program is a great product that makes the risk assessment process easy to manage and is proving to be very helpful to us.