Business Health Monitoring
in partnership with Argos Risk
Receive alerts when early warning signs of risks are identified with your third parties.
Industry best practices, as well as regulatory guidance, dictate that a comprehensive vendor oversight program that includes ongoing monitoring should be put in place. 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 to identify weaknesses or undisclosed risks that a vendor may not be forthcoming about.
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.
Integrating Argos Risk AR Surveillance into the Venminder platform allows you to systematically monitor your vendor’s business health and receive timely alerts when changes occur. It can identify early warning signs that may warrant your close attention by leveraging over 10,000 data points to assign risk scores.
Cost-effective and easy-to-understand monitoring
Increase awareness for business creditworthiness and financial health, combined with a credit alert system, all to see with color-coded scoring displayed within the Venminder platform.
Real-time continuous business health monitoring
View the overall Argos Risk score, the business health index score, the likelihood of consistent payment score, the days beyond terms score and the overall trend to stay properly updated and have actionable data.
Efficient view to streamline oversight
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.
The 4 Scores and Trend in the Vendor Profile
View these from within the Venminder platform on your vendors:
• Argos Risk Score
An overall risk rating of high, moderate, or low based on the overall financial, payment, and ongoing concern risk associated with the organization.
• Business Health Index Score
A score that predicts the business health of an organization’s operations. The higher the score, the more financially stable the organization is.
• Likelihood of Consistent Payment Score
A score that predicts the likelihood of a business to pay their vendors in a timely basis. The higher the score, the lower the risk of doing business with that organization.
• Days Beyond Terms Score
A score that indicates a company’s current vendor payment record. The range is 0 to 120 days. Lower scores indicate stronger payment performance.
Upward facing green arrow, horizontally aligned yellow arrows or downward facing red arrows will appear to represent the trend based on the scores in the last 30 days of the company.
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