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.
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.
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.