Hosted Vendor Due Dilligence|Manage & Risk Rate Contracts| Email Renewal Notifications| Vendor Database| Manage Your Client Contracts| Hosted, Secure, Web-Based | A Cost Effective Solution
Vendor due diligence is becoming increasingly important, especially in the financial industry. Auditors are taking a close look at not only your company, but the company you keep. Effective vendor management programs protect your institution by ensuring your vendors are adhering to all applicable compliance requirements. VendorSolutions is easy to use, low cost, efficient, and delivers real-time risk management.
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The Vendor Solutions Dashboard provides information about the health of your third party contracts, specifically those that need attention.
The Vendors Tab allows you to efficiently manage third party vendors relationships, upload contracts, set due dates and more.
Each vendor is given a risk score using an algorithm that calculates based on vendor importance, information provided and your own due diligence.
The alerts and notices section allows you to easily see contracts that are coming due, those that are incomplete, and vendors you have flagged.
Pull reports based on contract expiration dates, review dates, risk scores, decision makers, renewal dates and more.
Check the repository to see if anyone has performed due diligence on any of your third party vendors. Sharing information is a good thing.