From prospecting to offboarding a vendor, we have you covered
Bringing a new vendor on-board? Get them into VendorRisk ASAP and start a formal process.
Let employees suggest a new vendor via a "New vendor request" task form. Have all the vendor's pertinent information in one place.
Use the Vendor Selection module to have the vendor (and their competition) view and reply to an RFP.
If you decide to take the next step with the vendor, have the vendor complete a diligence questionnaire via the guest portal and conduct a vendor risk assessment.
Ensure you have collected all documentation (insurance, IT documents, etc.).
Enter all contract information into system and use a multi-step task to ensure the contract approval process has been followed.
Ensure the vendor is meeting expectations and all information is up-to-date.
Conduct periodic performance reviews to assess vendor's performance.
Track any incidents & issues with the vendor that merit follow-up.
Use bulk actions to automatically request updates to expiring documents.
Use Argos Risk integration to assess vendor's financial & cybersecurity rating.
Has the vendor relationship ended?
Use a multi-step task to ensure each step of the off-boarding process has been followed.
Mark the vendor as inactive or delete entirely from the system.