Vendor Risk Management

Vendor risk management best practice is to assess your vendors on a regular basis, but it is time-consuming and an error-prone exercise comprised of spreadsheets, email, and rudimentary legacy risk management tools if you haven’t automated your policies, processes, and workflows across your business.

As your vendors become privy to more of your sensitive data, their risk and compliance posture becomes even more important to your security. Automating the way you manage vendor risk through reporting of vendor risk, accessing a consistent assessment and remediation process is paramount. It simplifies the means to facilitate stakeholder interactions, reporting, drive transparency and accountability, and effectively monitor vendor-related risks. By aligning vendor risk management with overall enterprise risk management priorities, you can create an essential integrated view of risk and a stronger extended enterprise risk posture.

Leverage a single system of engagement to manage stakeholder relationships, automate routine processes and risk scoring. Reduce the time needed to manage risk throughout the vendor assessment life cycle.

Monitor risks and issues in your vendor environment through dashboard and alerts. Drill deeper and assess the impact on the organization’s risk posture. Report this across the business.

Accelerate decision-making across stakeholders and facilitate cross-functional remediation and risk mitigation processes. These efficiencies and collaborative environment support an increase in communication and collaboration across your business.

Vendor tiering, Speed assessment, vendor risk scoring, and risk prioritization of vendors. Notifications across business