Selecting Vendors based on risk assessments, establishing strong relationships with Vendors, and aligning them according to Policies and Controls of your enterprise are the most important aspects of Vendor Management. Following a systematic approach helps to improve compliance to regulations and makes it easy to manage all vendor related information from one interface.
Vendor Management allows Managers to define Services, Contracts, and Vendor Profiles; design and distribute Questionnaire. Vendors answer the Questionnaire. Depending upon the response submitted risk assessment is carried-out, and findings are reviewed. Managers can view various informative dashboards.
Easily update Vendor Profiles whenever there is a change in Service being provided or change in contract terms and conditions.
Reduce Vendor Risks
A systematic process for selection of Vendors reduces the Risks that would otherwise be involved.
Contracts Repository provides a central location to store all your Service related Contracts.
Monitor Vendor related Risks, assessments and recommendations from one single interface.