Outgrown Your Vendor Management Software?

VendorRisk grows with your needs

How VendorRisk Works

VendorRisk is a web-based product that we host & maintain. We handle the nitty-gritty aspects of running the application (hosting, security, backups, software upgrades, etc.) so you can focus on your actual work.

Our approach to vendor management is based on the assumptions that any or all of the following are true:

  • Your company has a multitude of vendors
  • Each vendor can have many contracts
  • Each vendor provides service or IT assets
  • You conduct a due diligence review and collect vendor documentation during the vetting period
  • You perform a risk assessment to determine vendor criticality
  • You track vendor issues & incidents throughout the relationship
  • You conduct periodic performance reviews to ensure the vendor is meeting your expectations
  • You perform internal surveys to assess vendor satisfaction
  • When selecting new vendors, you send out RFPs and compare results

What Can VendorRisk Help You With?

Depending on the resources your company allocates to vendor management, you may be doing all of the above or a fraction of it. Either is fine — we've designed VendorRisk to be modular & a la carte so that you only need to pay for the features you need.

Module Highlights
Vendor Management
  • List all your vendors, their status & address info
  • Unlimited contacts per vendor
  • Upload 3rd party & insurance policy documents
Contract Management
  • Keep track of termination dates
  • Receive multiple reminders prior to termination
  • Upload unlimited contract-related documents
Vendor Risk Management
  • Assess risk using questions & answers or a risk matrix
  • Assign each vendor a risk level
  • Review committees can approve/reject a submitted review
Due Diligence Reviews
  • Collect info & documentation from vendor during the on-boarding process
  • Allow the vendor to upload their responses themselves
  • Review committees can approve/reject a submitted review
Performance Reviews
  • Vendor owner completes a questionnaire
  • View any incidents/SLA violations the vendor had during review period
  • Review committees can approve/reject a submitted review
Vendor Incident Tracking
  • Track details of a vendor incident
  • Determine if the incident breaches the contract's SLA
  • Serves as valuable documentation during contract renewal negotiations
Vendor Survey Questionnaires
  • Create various surveys for internal/external use
  • Send the survey to the recipients via email & a web-based submission form
  • Track responses and view detailed/summary results
Vendor Selection Management
  • Tracks what vendors are being considered for a project
  • Allow prospective vendors to view RFP and reply online
  • Enter RFP responses to determine scorecard winner
Service & IT Asset Management
  • Track the actual deliverables provided by a vendor
  • Can serve as IT asset inventory tool
  • Individual deliverables can have their own risk assessment

With all the features you'll need...

  • Automated email alerts sent to the appropriate owners
  • A robust ad-hoc reporting tool — quickly get the information you need
  • Available 24/7 from any Internet-enabled device, including smart phones and tablets
  • Clean & modern user interface — within minutes, you'll be comfortable using the system
  • No per-user fees — give access to all relevant people at your company at no extra cost
  • Can scale up to thousands of vendors
  • Unlimited document uploads

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Let's talk and see how VendorRisk can help your company.

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Download the VendorRisk overview PDF