Overview of Our Vendor Management Software

All Your Vendor Information in One Place

Vendor Management

Catch up to speed on any vendor in a matter of minutes

Give everyone in your company access to a current, official vendor list
Conduct OFAC & SAM Exclusion searches against your vendors
Store all vendor-related docs — NDAs, insurance policies, 3rd party docs, etc.
Customize vendor statuses, categories and regions to fit your needs
Track parent/child and other relationships between vendors
Keep track of upcoming diligence/on-site/performance/risk review dates
Store annual financial & vendor spend information
View vendor's mailing addresses on an embedded Google map

Contact Management

All your vendor contacts in one place

Enter unlimited contacts
Denote primary & emergency contacts
Email contacts directly from the application
Enter comments for each contact
Archive contacts that are no longer with the vendor

Contract Management

Avoid missed deadlines & penalties

Track notification & expiration dates and receive email reminders
Enter unlimited contracts for each vendor
Enter sub-contracts that are tied to an umbrella contract
Have the system auto-renew contracts
Enter SLA terms, which can then be measured when conducting performance reviews

Services & IT Asset Management

Know exactly what your vendors are providing

Store dates such as support and warranty expirations and receive email reminders
Conduct risk & performance reviews on your services & IT assets

Vendor Selection Projects

Manage all aspects of a vendor selection project throughout its lifecycle

Create a vendor selection project and invite new & existing vendors
The vendors themselves can login to the Guest Portal and respond to the RFP
Use automated RFP scoring and see how each vendor performs compared to each other
One centralized location for all documents associated with the selection project

Incident Tracking

Document all vendor-related issues so you don't forget them later

Enter unlimited incidents with your vendors
Determine if the incident violated your SLA terms
See which vendors are the most problematic
Track the vendor's resolution time
Have the vendor complete an incident response form via the Guest Portal

Conduct Reviews & Request Information

Diligence Reviews

Have a consistent & reasonable approach to vetting your vendors

Conduct a diligence review to capture information on a vendor
Have the vendor complete the questionnaire on your Guest Portal
Optionally use a review committee to approve the vendor's responses
Unlimited reviews per vendor; unlimited review templates

On-Site Reviews

Diligence geared to on-site visits

Conduct an on-site review to capture information on a vendor
Have the vendor complete the questionnaire on your Guest Portal
Optionally use a review committee to approve the vendor's responses
Unlimited reviews per vendor; unlimited review templates

Performance Reviews

Ensure that your vendors are meeting expectations

Conduct a performance review to assess how well a vendor is performing
Have the vendor complete the questionnaire on your Guest Portal
Optionally use a review committee to approve the vendor's responses
Unlimited reviews per vendor; unlimited performance templates

Risk Reviews

Assess risk exposure to mitigate your third-party vendor concerns

Conduct a risk review to quantitatively arrive at a vendor's risk level
Optionally use a review committee to approve the reviewer's answers
Risk reviews can utilize a question & answer approach or a risk matrix grid
Unlimited reviews per vendor; unlimited risk templates

Document Requests

Quickly & easily request documents from your vendors

Send one-off requests to vendors for updated documentation
Can include NDA, 3rd party, insurance requests, or any other document
Receive email notification when the vendor uploads the document(s)

Surveys

Request information from anyone

Create survey questionnaires
Send the survey to anyone, just vendor contacts, or just internal users
A summary page will break down the responses, or create a report to query responses

Manage Your Workflow

Dashboard

All upcoming items in one place

The dashboard is your "home page", and aims to give you a snapshot of all action items
Toggle between just your items or all items you have access to
The dashboard can be emailed to you periodically — every day, week, etc.

Task List

What do you need to do next?

Tasks are specific items that need to be accomplished
Tasks can be recurring — every day, every week, every day of the month, etc.
Create saved tasks for common tasks
Create multi-step tasks with defined workflows — e.g. a contract approval process

Review Committees

Approval workflow for submitted tasks & reviews

Create unlimited review committees
Completed tasks & reviews can be to a review committee for approval
Each committee member can approve, reject or "approve with findings"
Rejected items will be sent back to the owner
Configure all aspects of who can approve, how many approvals are needed, etc.

Bulk Actions

Automate repetitive actions & save yourself a ton of time

Bulk actions perform one or more actions against report data, and can be one-time or recurring
Available bulk actions include: email item owner, email vendor contact, change owner, change department, create review, create document request, create task, etc.
For example, let's say you have a report called "Vendors that have an insurance policy expiring today"...
... you could have a bulk action that runs every morning and creates a document request and sends that to each vendor
... rather than having to manually email vendors every day that they have an expiring insurance policy, the bulk action accomplishes this in seconds

Reporting Tools

Executive Charts

Easily digest high-level information

Pre-built charts that show items by department, by status, by type and by risk level
Can be displayed as pie, column or bar charts
Save charts to PDF

Reports

Create custom reports on the fly

Create 4 types of reports — detailed, summary, drilldown and executive
Detailed — select specific fields to display, e.g. "All names, status, and risk level for active vendors"
Summary — see data as a pie, column or bar chart, e.g. a pie chart of "All vendors by risk level"
Drilldown — specific to reviews, lets you drilldown by an answer, e.g. "All vendors who answered 'Yes' for 'Hosts company data?'"
Executive — lets you combine one or more reports into one report

KPI Boards

Track & evaluate your vendor-related objectives

For reports that you want to track historically, create a KPI board...
... examples could include "Open tasks", "Reviews in-process", "High-risk vendors", etc.
The KPI page will show the # for each report and includes a link to view the historical trend by day
Color-code the # — for example, show the # in red if you have more than 20 high-risk vendors
Have your KPI boards delivered to you via email
Share your KPI boards with other users

Email Features

Daily Email Reminders

Important items delivered right to your inbox

Receive a daily email at 8 AM your time, Monday through Friday
Site admins can receive an additional email that contains a summary of all the daily emails
The emails can contain items due today, upcoming expirations, etc. with a link to the item in VendorRisk

Forward Emails to your Site

Backup important information from email messages

Your site will have a unique VendorRisk email address
Users can then forward emails to this address, and the email will appear in your site
Forwarded emails can then be assigned to a vendor and appear in their vendor page
This approach lets you quickly & easily preserve email conversations without tedious copy/pasting

Stored in the Database

Automatic copies of your email messages

Any emails sent from the system are automatically kept in the database
Search email messages by creating reports
Site administrators can see all email messages sent via the system

Sent via SendGrid

Increase odds of email delivery

SendGrid is a popular email delivery provider to help ensure that your email reaches its recipient
Any bounces/blocks are recorded in the system to help you troubleshoot issues

Other Features

Guest Portal

A secure environment for your vendors to login to

Vendors can view and/or complete diligence/on-site/performance reviews, incident responses, surveys, document requests & RFP requests
Vendors can create their own account and request a new password
While anyone can register, the guest's email address is used to determine access to reviews & requests
Vendors can review contact info you have on file and notify you of any changes

Document Storage

Upload all your vendor-related documents, safely and securely

Attach documents to virtually any item (vendor, contract, etc.)
All documents stored securely at Amazon S3 & can only be accessed via your site
Documents can have an expiration date & can be archived
Permissions can be given to documents so that only certain users can view/download the file
Unlimited document storage — individual files can be up to 80 MB in size
For security purposes, only the most popular file formats are allowed (PDF, MS Office, etc.)

Comments

Keep a running conversation of notes & concerns

Post comments to virtually any item (vendor, contract, etc.)
Email the item owner when a new comment is added
Use the Reports tool to search through any comments

Import & Export

Get your data in & out

Import vendors, contacts, contracts, incidents, mailing addresses and vendor spend data from CSV
Export items to Excel, PDF and ZIP
Set up weekly site-wide exports to Excel
Set up weekly incremental file backups to ZIP

API access

Access your site data without logging in

Read-only access to report data
Data can be formatted as XML or CSV
Use our API to ingest your site data into a local database or other software
All API attempts are logged

Site Administration

User Management

Get everyone on board with the appropriate access rights

Create unlimited users
Assign multiple site administrators
Single sign-on (SSO) integration with popular providers, such as ADFS, Azure, Okta, OneLogin and PingOne
Multi-factor authentication (MFA) integration with Google Authenticator
Very granular permissions — add/view/edit privileges along with per-module access
"User roles" let you create groups of users to simplify permissions for similar users

Review Templates

Highly customizable templates for your review process

Create unlimited review templates
Questionnaires can have unlimited items
Multiple field types to choose from (textbox, dropdown, radio button, checkbox, etc.)
Create scoring logic dependent on the answers
Configure skip logic to eliminate having to answer irrelevant items

Customize, customize, customize

Tailor your site to meet your needs

Customize what appears on your dashboard & daily email alerts
Configure how strong each password must be & how long passwords can be valid for
Create custom fields for virtually every module
Customize guest portal to include your company's logo and color scheme
Customize document types
Create your own help manual

Software Support

Technical Support

Web-based Training

When you need more in-depth assistance

One-on-one web-based instruction with VendorRisk support
... or, invite co-workers to join in on the call
We can record the meeting so you can reference it in the future

Periodic "Health Checkups"

Use VendorRisk to its fullest potential

VendorRisk support will create a temporary support account and review your site
We'll discuss with you how you're currently using the software
Based on how our other customers are using similar features, we can offer suggestions