Credit Union Vendor Management Software
From due diligence, risk assessment, planning, and contract review, to ongoing monitoring and oversight Quantivate Vendor Management Software allow your organization to develop a comprehensive vendor management process and obtain a complete view of your vendor relationships and risk.
- 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
Quantivate VM tools have been developed with the law firm Farleigh Wada Witt to provide clients with highly effective vendor management processes and tools that satisfy all regulatory requirements. In fact, Farleigh Wada Witt guarantees that the management tools in Quantivate VM will always comply with current NCUA/FDIC/OCC requirements.
Software Helps You Comply With:
- GRAMM-LEACH-BLILEY ACT OF 1999, SECTION 501 (B) (PL 106-102 1999 S 900
- NCUA: LETTER TO CREDIT UNIONS 06-CU-12, DISASTER PREPAREDNESS AND RESPONSE EXAMINATION PROCEDURE
- NCUA: LETTER TO CREDIT UNIONS 01-CU-21, DISASTER RECOVERY AND BUSINESS RESUMPTION CONTINGENCY PLANS
Optional Consulting and Implementation
Your time is valuable and chasing down vendor information is time-consuming, expensive, and often never gets done. Quantivate provides vendor management services to make your vendor management implementation easier, faster, and more cost-effective. Your organization must determine who your critical vendors are, gather information and evidence on your critical supplier’s internal controls, assess the data and rate the risk of continuing to perform work with them.
Working with your staff on an ongoing basis, our experts ensure your vendor due diligence program meets regulatory requirements. Vendor and Third
Party Management Services include:
- Importing key vendor and third-party data.
- Ensure you have a clear and concise policy in place to govern your vendor management initiative.
- Establish clear guidelines for determining vendor and third-party criticality.
- Configure automated workflow questionnaires that align with your policy and vendor management program.
- Follow up with third parties to ensure appropriate due diligence documentation is obtained.
- Assess the vendor’s internal control structure and evidence by using certified experts where possible (for example CISSP for information security).
- Recommend likelihood ratings to enable quick risk assessments for third-party relationship risk.
- Configure workflow surveys for your internal vendor owners to determine the overall risk rating per vendor and mitigation.
- Setup annual review cycles for critical vendors.