Improving a company's vendor risk management process can be a daunting challenge. The question many firms face is: What platform gives my firm the needed functionality without high integration, support and software costs? These same firms look at the high cost of GRC applications and other risk management software, eventually deciding that much of these enterprise software's functionalities are overkill. Firms who have limited budgets, limited resources and don't want to delve into integration purgatory seek out, and ultimately adopt, Vendor360.

Vendor360 helps you manage all phases of risk management, including onboarding, assessments, analysis, monitoring, reporting and audits.

Its innovative and proven platform provides a wealth of vendor risk management capabilities at a fraction of the cost of VRM's used by large enterprise companies.

Centralized Vendor Directory

  • Manage all vendor information in a centralized, cloud based, Vendor360.
  • Leverage attributes like criticality and inherent risk levels to segment vendors into multiple risk tiers.
  • Manage risk through all phases of the vendor lifecycle.
  • Manage risk, spend, contract information and other attributes for each vendor at the product, service and engagement levels.
  • Get a comprehensive view of all vendor data in one place.
Centralized Vendor Directory

Manage New Vendor Selection and Onboarding

  • Streamline pre-contract inherent risk analysis for new vendors by sending surveys and questionnaires to multiple internal teams.
  • Manage inherent risk for each vendor at the engagement, product, and service levels.
  • Use inherent risk analysis to conduct detailed vendor due diligence and assess appropriate vendor controls.
  • Aggregate all vendor documents, policies and information in Vendor360.
Manage New Vendor

Automate Ongoing Risk Assessments, Audits and Monitoring

  • Conduct ongoing third-party assessments, onsite audits and surveys.
  • Use Vendor360's integrated industry standard templates like SIG, AITEC, etc., or your existing questionnaires.
  • Within a questionnaire, request documents at the question or section level.
  • Map controls questions or sections to regulatory guidelines like COBIT, PCI, etc.
  • Publish and track progress of questionnaires to one or multiple third parties.
Automating Ongoing Risk

Provide Third Parties With a Robust Application to Respond

  • Provide vendors and third parties with access to Vendor360 at no cost.
  • Giving them access to your Vendor360 instance negates the need for version control, emails, and miscellaneous attachments.
  • When third parties use Vendor360's collaboration, document or questionnaire assignments and approval workflows, you share a common tool for progress monitoring and reports.
Streamline Evaluation of Third-Party Responses

Streamline Evaluation of Third-Party 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.
  • Leverage Vendor360's artificial intelligence to automatically evaluate answers and flag deviations.
  • Clarify questions, resolve issues and collaborate in one application.
Manage Issues and Track Remediations

Manage Issues and Track Remediation

  • Identify and raise visibility of issues at a question or section level.
  • Collaborate with third parties and request updates on issues within the common application.
  • Capture important details about specific issue severity, resolutions recommendations and issue status.
  • All communications are captured and in context, in case of an audit or future questions.
  • Track issue resolution progress jointly.
  • Route issues and their related updates to relevant internal users within Vendor360.
Analytics and Monitor Trends

Analyze and Monitor Trends

  • Gain comprehensive visibility to trends for third parties, vendors and partners performance.
  • Compare third parties' results at a questionnaire, section or question level.
  • Analyze aggregate third-party data or drill down to one partner's details within Vendor360.
Analytics and Monitor Trends
Third-Party Due Diligence and Onboarding

Third-Party Due Diligence and Onboarding

Ongoing Risk Monitoring

Vendor Risk Management

Self Assessments

Self Assessments

Vendor Audits

Vendor Audits

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