Manage vendor due diligence for potential relationships before entering an agreement
Create the flow you need to effectively evaluate a potential vendor’s business and their regulatory impact to your organization prior to executing the contract.
Streamline the vendor onboarding process for all vendor types
Ensure that all variations of processes and requirements, such as if you treat vendors differently based on type, can be followed and all team members involved can more easily and efficiently tackle their onboarding responsibilities.
Compare vendors side by side to choose the right option
By being able to easily compare vendor choices, it makes vendor selection more accurate and painless.
Speed up the deployment process
Quickly onboard new vendors to begin using the product/services sooner. This ensures that you can quickly take advantage of potential return on investment (ROI) opportunities with the new vendor.
Gather information and perform
pre-contract due diligence
Don't leave your organization open to vulnerabilities that could be damaging to its reputation. Verify the vendor meets the requirements set forth in the vendor risk management program.
Centralize new vendor requests and approvals
Every request for a new vendor throughout the organization lands in onboarding to create a bottleneck. Capture vendor information, see all options and compare.
Perform initial risk and criticality assessments
Evaluate the level of risk the vendor carries and that they have the appropriate controls in place to mitigate that risk.
Collect and store contracts and other documentation
Review against your organization's expectations and identify areas of weakness or concern to help decide which vendor is the best fit for your organization's risk appetite.