Monitor and mitigate third-party risk with unprecedented ease
VendorInsight is the best-in-class Vendor Risk Management 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?
It’s no longer enough to monitor and mitigate your internal, enterprise-wide risk. Half – or more – of the threats to your business can arise from your vendor network or the fourth parties they subcontract.
Whether those risks involve noncompliance with your company policies or industry regulation, personal data protection, or financial risk that might impact your bottom line, VendorInsight helps you understand and proactively address them.
Top-tier VRM software that makes it easy to mitigate third-party risk
Identify and monitor third- and fourth-party risk across your vendor network and supply chain.
Ease of SaaS adoption and use, via an intuitive dashboard, makes it simple to keep track of your entire vendor landscape.
Centrally manage vendor contracts, documentation, vendor risk analysis reports and more.
Automated alerts ensure you’re aware when vendor risk goes beyond acceptable thresholds, so you can proactively take measures.
Perfect for organizations in highly regulated industries
VendorInsight helps banks, credit unions, insurance firms, and other financial services organizations protect themselves against third-party compliance risks. 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.
VendorInsight provides protection via extraordinary features
SaaS-based VendorInsight is remarkably easy to adopt and use, offering a wide range of features:
Input contract terms, manage vendor contracts, manage renewal dates and configure alerts.
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
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 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 dashboard.
Protect your data in VendorInsight® with SSO access security and provide ease-of-use for your enterprise users.
Gain full lifecycle risk management for your organization’s exposure to all non-IT supported applications and technical assets including models, tools, calculators, end-user computing and spreadsheets.