Vendor Risk Monitoring Report
These company reports offer an easy and cost-effective way for your organization to monitor credit-worthiness and to better know with whom you are doing business.
In Partnership with
Industry best practices, as well as regulatory guidance, dictate that a comprehensive oversight program that includes ongoing monitoring should be put in place. This ongoing monitoring can help to identify weaknesses or undisclosed risks which a vendor may not be forthcoming about that you can then act to remediate against.
An oversight program will generally include the monitoring of the third party’s quality of service and reputation, risk management practices, financial condition and applicable controls and reports.
Venminder, through a strategic partnership with Argos Risk®, offers a solution known as AR Surveillance™. It is a web-based solution that provides an easy, actionable and affordable method to complement the ongoing monitoring of your vendors.
The solution allows you to systematically monitor your vendors and receive timely alerts when changes occur. It can identify early warning signs that may warrant your close attention.
Venminder Integration Option
Users of Venminder software can set up direct access to their Argos Risk account via simple sign-on integration. This simplifies the process of going from one system to the other as you are working on your third parties.
It is an easy, actionable and affordable method for continuous monitoring for business creditworthiness and financial health, combined with a credit alert system.
Argos Risk Score
For each vendor monitored you can view the following:
As new information is collected, an email alert is generated to keep you aware of any score changes to the risk profile of your vendors.
Complementing your ongoing monitoring activities by receiving real-time updates on high risk issues or negative situations concerning your vendors
Identifying early warning signs of risks on your third parties
Being alerted on key changes of financial viability, CFPB complaints or judgments, bankruptcy, major litigation, major leadership changes and merger and acquisitions.