Vendor Risk Management Software
Quantivate Vendor Management software allows your organization to develop a comprehensive vendor management process and obtain a complete view of your vendor relationships and vendor risk. The solution enables efficient vendor due diligence, vendor risk assessments, planning, vendor contract review, ongoing monitoring, and oversight.
In today’s complex business environment, vendors play a key role in the success of your organization. However, relying on vendors brings added risk. Managing these vital relationships and risks is important to ensure third-party products and services comply with applicable laws, regulations, and security best practices.
Relying on spreadsheets and word processing tools for the management of critical vendors no longer meets the growing requirements from auditors, government agencies, customers, or investors. A comprehensive vendor management software solution will allow you to protect and manage your resources and maintain successful long-term vendor relationships.
Centralized Vendor and Data Management
With Quantivate Vendor and Third Party Management software, you can manage all your vendor information, such as contact information, financials, contracts, and insurance certificates, in one easy to manage web-based application. The system also provides comprehensive on-time notifications of critical expiration and due dates.
Manage Vendor and Third Party Risk
Quantivate Vendor Risk Management is a powerful solution that gives you the ability to quickly perform due diligence and score your vendors on multiple variables to auto-calculate and determine the overall risk breakdown of each vendor.
Dynamic Workflow and Self Service Portal
- Dynamic workflow engine enables you to configure workflows, pages, and questionnaires to gather information from external third parties.
- Pre-Built workflows include: Vendor Analysis, Vendor Termination, Vendor Questionnaires, Vendor Incident Polling, Contract Reviews and much more
- Use temporary user accounts to create powerful self-service portals so your vendors, suppliers, and other third parties can manage their own information and documentation.
Easy to Use Dashboard Interface
Quantivate Vendor Management’s customizable dashboard interface gives you at-a-glance information and easy accessibility to important vendor information. Through this dashboard interface, you can access reports, your vendor document library, and other essential vendor information. Plus, the system’s unique Vendor Management Program Snapshot gives at-a-glance information, in easy to read charts, showing where each vendor sits in the Vendor Management Process, the classification breakdown of vendors, and the risk breakdown of vendors.
Quantivate Vendor Management software’s robust reporting capabilities give clear visibility into high-risk vendor relationships, the status of vendor assessments, and your organization’s overall risk exposure. Complete audit-ready predefined report templates are available for quick no-hassle reporting, including SOC reports. In addition, reports can be customized to fit your specific business needs. Reports include:
- All Vendor Report: Displays key information about all vendors stored in the system.
- All Contract Report: Displays key information about all contracts stored in the system.
- Vendor Classification Report: Displays classification ratings for all vendors stored in the system.
- Vendor Due Diligence Report: Displays all attributes associated with the Due Diligence process.
- Critical Vendor Detail Report: Displays all vendors classified as Level 1 – Critical.
- Exceptions Report: Highlights Vendors and Contracts that are missing key information and reviews such as classifications, due diligence, and contract expiration dates.
- Documents Requested and not Received: A list of documents requested from vendors but not yet received. Includes links to drill down to the due diligence assessment for further review.
- Vendor Management Executive Summary
Vendor Risk Management Services
Contract Review Services
Effective and compliant contract review and management can be expensive, time consuming, and demand many resources that may just not be available. With regulations constantly changing and heavier enforcement than ever before it is critical to have a contract management solution that meets your needs and passes regulatory review.
Due Diligence Services
Your time is valuable and chasing down vendor information is time consuming, expensive, and often never gets done. Quantivate provides complete vendor due diligence services to make your vendor and third party management initiatives easier, faster, and more cost effective.
Key Vendor Risk Management Features
- Vendor Classification – Understand your inherent risk
- Dynamic Workflow Engine – Configure workflows, pages, and questionnaires to gather information from external third parties
- Self Service Portals – temporary user accounts to create powerful self-service portals
- Digital File Library – For easy storage and access to digital files, contracts, etc.
- Notifications – Notify specific employees of due dates
- Customizable Report Templates – Use prebuilt reports or customize them to fit your needs
- Dashboard Layout – “At-a-Glance” status viewing and quick decision-making
- Web Based – Easy deployment and automatic updates and maintenance
- User group security – set employee security levels and assign vendors to specific employees
- Auto Back-up – Keeps your work safe and secure
- Audit History Log – Track document changes by employee and vendor
- Optional Deployment Services – Save time and effort with optional services
Single Sign-On Capabilities
Quantivate Single Sign-On (SSO) capabilities allow the Quantivate platform to trust the passwords and credentials passed from a user’s own network authentication and automatically perform user login. As a result, users do not have to enter a different username and password when logging into the Quantivate application.
Quantivate SSO provides end-users with convenience and uncompromising security through true SSO capabilities from network login through to application access.
Benefits of Quantivate Vendor Management Software
- Gain a detailed picture of your risk exposure from vendor relationships
- Organize your vendors for easy review and access
- Create a consistent standardized vendor management process to increases efficiencies
- Centralize Reporting for greater decision making and resource management
- Enforce vendor risk management policies and controls to ensure regulatory compliance
- Save Time, Effort and Cost by significantly reducing resources and expenses required to perform risk analyses and maintain vendor oversight
- Deliver complete information to senior management for strategic decision making
The Quantivate GRC Suite – Data from Across the Enterprise
Quantivate Vendor Management software allows your institution to implement industry best practices for efficient audits, and ensure tight integration of the internal audit process with other Quantivate Suite modules including: Internal Audit , Business Continuity, Enterprise Risk Management, IT GRC, and Regulatory Compliance Management. No time consuming or costly integration programming is required to gain access to all the risk, compliance, and business continuity data required for your audit processes.