Vendor and Third-Party Risk Management
The Vendor risk Management system allows clients to securely expand the organization's network of Third Party Vendors. It also gives us the ability to identify, assess and manage vendor risk exposure from TPS's ( Third Party Suppliers). This provides a real time vision of vendor risks, thus enabling the organization to make better decisions.
Vendor Risk Management is based on the reliability of a vendor . That is, the Vendor Risk Management system has to determine which Vendor is the safest choice to avoid an issues . The system must also communicate to the vendor for the length of risk assessment duration. Various Vendor Risk Management solutions include Managing and establishing the identity of Vendors, Assessing the risks oriented with each vendor etc. We also provide a centralized repository of all data points in the organization. Additional features include
1. Vendor Risk Management Services like External Risk Alerts where every time there is an outside force causing issues in the organization we can assess the alerts and report them as well.
2. Contract Information Management where all the information in a particular agreement are verified and monitored to ensure there are no mistakes made.
- Vendor Identity Management
- Vendor Risk Evaluation
- Federated Repository for all information
- Assessment of Financial Viability of the Vendor
- Contract Information Management
- External Risk Alerts