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.