Monitor and mitigate third-party risk with unprecedented ease
VendorInsight is the best-in-class third-party Vendor Risk Management software solution where ease of use meets advanced features such as vendor risk assessment, automated vendor monitoring, fourth-party vendor tracking, concentration risk analysis, and more.
Are you only mitigating half your risk?
Monitoring your internal enterprise risk alone is no longer enough.
Half – or more – of the threats to your business can arise from your vendor network or the fourth parties they subcontract. That means that protecting your customers and your business in today’s environment demands visibility and control over your vendors’ risk management, security, and compliance practices as well as your own.
Whether it’s adherence to your company’s policies, compliance with industry regulations, protection of personal data, or managing other risks, like financial, cybersecurity, information security, or business continuity risk that could impact your bottom line, VendorInsight is the trusted partner in vendor management because our software was designed to help you understand, report on, and proactively address risk patterns before they make an impact.
The VendorInsight advantage is comprehensive oversight of your third-party risk with:
- Vendor onboarding
- Third-party risk assessments
- Automated vendor monitoring
- Fourth-party vendor tracking
- Concentration risk analysis & more.
Streamline your third-party and vendor compliance
VendorInsight is particularly effective for helping companies in highly regulated industries (like banks, credit unions, insurance firms, and other financial services organizations) protect themselves against third-party compliance risk, regulatory scrutiny, and penalties. Save time (and gain peace of mind) knowing your company is compliant with:
- FFIEC
- Federal Reserve Board (FRB)
- OCC
- FDIC
- CFPB
- CECL
- GLBA
- GLBA
- GDPR
- CCPA
- Dodd-Frank
- SEC
- FINRA
- NYDFS500
- HIPAA
“VendorInsight is a world-class solution that has successfully supported the growth of UBSI over the last four years, and I expect it will continue to do so well into the foreseeable future.”
Craig Robinson, Vendor Manager at United Bank Shares Inc.
Why choose VendorInsight as your Vendor Risk Management Partner?
Flexible, SaaS-based capabilities make it fast, easy, and rewarding to get up-and-running quickly with:
Continuous Monitoring
Identify and monitor third- and fourth-party risk across your vendor network and supply chain
Reporting
Track and report on your entire vendor landscape with an unparalleled time to value via intuitive dashboards and straightforward SaaS implementation
Compliance
Centrally manage vendor contracts, documentation, vendor risk analysis reports and more
Risk Mitigation
Get Governance Dashboard Alerts to proactively monitor and mitigate risk
Perfect for organizations in highly regulated industries
VendorInsight is the vendor risk management solution that helps banks, credit unions, insurance firms, and other financial services organizations protect themselves against third-party compliance risk. VendorInsight is also used by organizations in other highly regulated industries (e.g. healthcare and manufacturing) that have vendors or third-party relationships that could expose them to regulatory scrutiny and penalties.
Top-tier Vendor Risk Management software requires best-in-class features
SaaS-based VendorInsight is remarkably easy to adopt and use, offering a wide range of features:
Contract Manager
Input contract terms, manage vendor contracts, manage renewal dates and configure alerts.
Document Manager
Upload vendor documents, upload vendor due diligence reports, manage document expirations, archive documents, and more.
Inherent Risk Assessments
Determine vendor criticality and assess inherent risks, calculate an inherent risk rating for each vendor.
Residual Risk Assessment
Develop comprehensive or abbreviated vendor risk assessments depending on vendor type, collaborate on risk assessments with subject matter experts, and assign a residual risk rating to each vendor relationship.
Performance Reviews and SLA Tracking
Monitor and track vendor performance metrics and specific service level agreements (SLAs) for important contracts
Vendor Questionnaires
Develop and issue various types of questionnaires to vendors, link vendor documents to questionnaire responses, and carry out workflows to review submitted questionnaires and documents with subject matter experts and stakeholders.
Vendor Due Diligence Report Generation
An evaluation report wizard helps generate comprehensive reports, using data from vendor due diligence reviews and automated scoring by subsection rollups to create overall vendor scores.
Vendor News Monitoring
Receive daily updates about vendor news and special risk alerts linked to critical vendor events like data breaches, lawsuits, changes in legal and executive structure, and more.
Workflow Automation
Workflow automation lets you design concurrent or sequential reviews of documentation and track changes from your subject matter experts and approval authorities.
Issue Tracking and Remediation
Identify and prioritize issues and risk assessment gaps that require remediation, assign corrective actions to managers, and track aging, completion, and approvals.
Policy Adherence and Governance
With the unique PCM (Policy Compliance Matrix), you command instant knowledge of your overall program compliance and quickly spot which specific policy requirements are not being met.
Enterprise Risk Indicator Metrics
Dashboards, Reporting, and Analytics
Customizable enterprise, administrative, process, and user dashboards keep current activities and workflow status readily visible, allowing you to perform functions directly from the vendor management dashboard.
Single Sign-On
Protect your data in VendorInsight® with SSO access security and provide ease-of-use for your enterprise users.
