Third-Party Assessments

Third-party and vendor assessments are part of a comprehensive third-party risk management and monitoring strategy. CENTRL's Vendor360 can help manage all parts of your third-party/vendor lifecycle. It includes intuitive workflows to automate third-party information gathering, streamline evaluations and issues management, and simplify collaboration with third-parties.

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Benefits of CENTRL's Vendor360 include:

  • Automate end to end third-party assessments
    • Conduct ongoing third-party assessments, onsite audits, and surveys.
    • Leverage industry standard templates such as SIG, AITEC, VSAQ, and others, or your existing questionnaires.
  • Publish "one-time" assessment or create a recurring schedule:
    • Publish and track the progress of questionnaires to one or multiple third-parties.
    • Create recurring schedules to send assessments periodically.
  • Manage ongoing risk obligations
    • Create risk obligations per vendor engagement to track ongoing performance.
    • Obligations can be for requesting document (Financial Statements, Certificate of Insurance, SOC Reports, etc.) or to conduct additional assessments.
  • Streamline the evaluation of responses
    • Evaluate responses with custom or standard grading scales and weights, at the section or question level.
    • Assign sections or questions to other internal teams for evaluation.
    • Clarify questions, resolve issues and collaborate, in one application.
  • Gain comprehensive visibility into risk across the vendor portfolio
    • Conduct trend analysis for third-parties, vendors and partners performance.
    • Compare third-parties' results at a questionnaire or section level.
    • Aggregate third-party data, view exceptions and drill down to details.

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Using Vendor360's your organization can streamline your third-party assessments and gain better control and insight into your extended ecosystem of partners.

Read more about Vendor360, or contact sales about CENTRL's vendor solutions.