Credit Union Vendor Risk
Management Software

Manage the full vendor lifecycle and get a complete view of your credit union's third-party relationships.

Vendor Risk Management Software
for Credit Unions

Quantivate Vendor Management Software allows your credit union 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. The solution allows you to manage vendors throughout the entire vendor lifecycle.

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, and investors. A comprehensive vendor management software solution will allow you to protect and manage your resources and maintain successful, long-term vendor relationships.

Quantivate Vendor Management helps you:

ENHANCE VISIBILITY

Improve your oversight of vendor relationships and their health to cultivate reliable, long-term partnerships

IMPROVE COMMUNICATION

Boost collaboration both internally and externally with user accounts and vendor self-service access

INCREASE ACCESS

Easily store and retrieve vendor information through a centralized database for contracts and due diligence documentation

REDUCE RISK

Use built-in tools for contract reviews, risk assessment, and vendor criticality and risk scoring

MAKE SMARTER DECISIONS

Leverage robust reporting tools for both auditing purposes and executive decision-making, verifying that your third-party risk management practices meet regulatory requirements and internal policies

BOOST EFFICIENCY

Standardize your organization's vendor management processes with built-in best practices and integration with other GRC activities

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.

Comprehensive Reporting

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 no-hassle reporting, including SOC reports. In addition, reports can be customized to fit your specific business needs.

Features Your Credit Union Needs to Succeed

From due diligence and contract reviews to risk and compliance management, Quantivate Vendor Management for Credit Unions is a dedicated solution for documenting, managing, and analyzing vendor relationships. You can classify vendors, store contracts and vendor information, monitor performance, manage incidents, and generate audit-ready reports — all in one platform — with features including:

  • Vendor Classification – Understand your inherent risk with criticality and risk scoring.
  • Vendor Analysis – Use built-in tools and guided processes for evaluating new vendors, conducting contract reviews, monitoring risk and performance, and tracking incidents.
  • Vendor Self-Service Portals – Set up temporary user accounts to create powerful self-service portals for vendors or other contributors.
  • Built-in Content – Access templates for vendor analysis, vendor termination, due diligence questionnaires, vendor incident polling, and contract reviews.
  • Notifications – Receive automated "action needed" alerts and notify specific employees of due dates.
  • Customizable Report Templates – Use pre-built, audit-ready reports or customize them to fit your needs.
  • Audit History Log – Track document changes by employee and vendor.
  • SaaS Platform – Easily deploy our web-based application, which features automatic updates and maintenance.
  • Dashboard Layout – View reports and statuses at a glance for quick decision-making.
  • Dynamic Workflow Engine – Configure workflows, pages, and questionnaires to gather information from external third parties.
  • Digital File Library – Easily store and access digital files, vendor information, contracts, due diligence documentation, and more in one centralized location.
  • User Group Security – Set employee security levels and assign vendors to specific employees.
  • Auto Back-Up – Keep your work safe and secure.
  • Single Sign-On – Provides end-users with convenience and uncompromising security through true SSO capabilities.
  • Optional Deployment and Consulting Services – Save time and effort with optional vendor due diligence and contract review services.
  • Manage vendors throughout the entire vendor lifecycle.
  • Enforce vendor risk management policies and controls to ensure regulatory compliance.
  • Save time, effort, and costs by reducing resources and expenses required to perform vendor oversight.
  • Deliver complete information to senior management for strategic decision-making.
  • 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 increase efficiency.
  • Centralize reporting for improved decision-making and resource management.

 Benefits