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.

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.

• 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

• 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 too
  • 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