Often companies undertake vendor audits as part of a wider compliance program. These vendor audits are usually part of a company's internal controls framework and take the form of periodic vendor assessment, third-party compliance with contract clauses, data center security assessments and many other compliance assessments.
Unfortunately for some companies, this process can be fraught with inefficiencies and inadvertent errors. The angst in this process is almost always due to the use of emails, Word documents and spreadsheets to conduct, complete and save audit evidences. The net results of this ad-hoc process are multiple file systems, formats and attachments resulting in too much time spent on the process and not enough time spent on assessment evaluations.
There is a better way. CENTRL's Vendor360 provides a single platform for companies to conduct all types of vendor audits. With its flexible workflow, you can send an assessment or a checklist to your vendors prior to the audit so you have the prerequisite information in advance. Vendor360 can be used for remote assessments and onsite audits providing a common platform for all vendor audits (there is no charge for your vendor's use of Vendor360). Regardless of your vendor audit needs, CENTRL's Vendor360 allows you to evaluate vendors on your key control areas. You can also clearly see nonconforming results and remediate any issue by sharing and collaborating the issue with your vendor.
Using Vendor360's common platform can easily manage a multitude of template, checklists and questionnaires while providing the control to monitor, evaluate and create audit reports allowing you to focus on the results instead of the process.