Predict360 Vendor Management
Your Vendors Expose Your Business to Risks
Vendors are an important part of many different business processes, but they have to be reliable. An unreliable vendor exposes your business to many different types of risk. Predict360’s Vendor Management System allows you to track vendor performance, manage different vendors, note down issues and resolutions, and provide feedback to vendors all in one easy to use system.
Businesses face many challenges in managing vendors
- Businesses are increasingly using multiple third-party vendors and contractors to expand the product portfolio and improve customer experiences.
- Managing relationships and agreements with multiple third-party vendors and contractors can get very complex very quickly.
- In some cases, regulations are in place that require due diligence to minimize third-party risk exposure.
- The increased regulations on organizations has significantly increased requirements for the management of third party compliance.
- Ensuring that the products and services provided by third-party service providers are safe and comply with applicable laws, regulations and standards is difficult
360factors provides you full visibility
- Track the performance of all your vendors in one easy to use system
- Store information of all vendor related issues and problems
- Easily audit vendor performance by viewing all historical problems and issues in just a few clicks
- Complete vendor life cycle management – from on-boarding to service delivery
- Improve vendor performance by providing vendors with feedback
- Detect on-going issues through trends and patterns to determine vendor risks
- Review or assess certificates of Insurance, checks, and due diligence documents of vendors
- Automated spreadsheets to keep track of all the different risks, screening and verification of all the questionnaires with on-boarding, OFAC checks, insurance verification and security assessments
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As thought leaders in the compliance and vendor management space, 360factors is dedicated in providing those who are seeking an improved solution to their own challenges, a resource for visitors to become informed and make their own evaluation of the services being provided. Select some recent vendor management related articles below.