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Oversight Automation

2 min read
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Define and automate oversight requirements

With Venminder’s Oversight Automation Module, you can save time and drive consistency by taking your vendor oversight to the next level with the ability to define and automate the minimum oversight requirements that should be performed on your vendors.


Save Time with Defining Oversight by Risk or Category
Not all vendors require the same oversight. Defining the due diligence items for each vendor can be time-consuming and lead to inconsistencies. With Oversight Automation, you can automate what due diligence items your program requires based on the vendor's Risk (inherent risk with criticality and NPI Access variables) or custom Categories.

Streamline Processes by Auto-Assigning Tasks
Most organizations have agreed upon individuals and roles who manage particular oversight tasks. This can be a cumbersome process. Oversight Automation allows you to define a user or role who would be automatically assigned to new tasks created for a particular oversight requirement. Once your automation is fully configured, the Venminder platform takes the lead making sure that the right people are performing the right tasks.

Address Risky Vendors By Automating the Frequency of Due Diligence Reviews
Ongoing due diligence reviews are one of the most critical activities of third-party risk management. A vendor's risk level can fluctuate. Therefore, it is important to consistently reassess vendor due diligence on a set frequency. Oversight Automation allows you to set a frequency for due diligence reviews to ensure that they are being consistently executed. In return, this will allow for the opportunity to address risky behaviors before they impact your organization.
 If you are interested in learning more about oversight automation, please request a demo by clicking here

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