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.
For banks, credit unions, insurance firms, healthcare, and other industries, it’s an essential solution for meeting regulator requirements and protecting your enterprise.
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.
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
Complete comprehensive or abbreviated vendor risk assessments depending on the type of vendor, 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 workflow to review submitted questionnaires and documents with subject matter experts and your business owners
Vendor Due Diligence Report Generation
Evaluation report wizard helps generate comprehensive reports using data and narrative from vendor due diligence reviews and automated scoring by subsection rolls up to an overall report score.
Vendor News Monitoring
Receive regular, 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 reviews 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) in VendorInsight®, you command instant knowledge about your overall program compliance and 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 and allow users to perform functions directly from the dashboard.
Enterprise API Integrations
The API enables seamless integrations to other enterprise systems, allowing your organization to pull data directly out of VendorInsight or integrate workflow with VendorInsight.
Protect your data in VendorInsight® with SSO access security and provide ease-of-use for your enterprise users.
With ClusterSeven, 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.
With TAP Workflow Automation, embed your policy and information governance best practices in operational processes throughout the enterprise via easily automated, fully audited, and flexible workflows.