Solutions for Procurement & Sourcing Teams

Key Capabilities

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  Sourcing & Selection

  Automate the distribution, comparison and management of RFPs and RFIs, adding demographic, 4th-party technologies, and ESG scoring insights for risk-based selection decisions. Add on the Risk Profiling Snapshot to gain recent business, reputational, data breach and financial insights on potential vendors.

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  Contract Lifecycle Management

  Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate contract lifecycle management.

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  Centralized Intake

  Populate key supplier details with a centralized and customizable intake form and associated workflow capabilities available to everyone in your organization.

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  Supplier Onboarding

  Import vendors via a spreadsheet template or through an API connection to an existing procurement solution, eliminating error-prone, manual processes.

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  Comprehensive Supplier Profiles

  Build a comprehensive profile with built-in assessment and monitoring insights that support strategic procurement initiatives across Environmental & Social Governance (ESG), Modern Slavery, Ethics & Diversity, Business Resiliency and more.

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  Inherent Risk Scoring

  Calculate a vendor’s inherent risk score based on the likelihood and potential impact of security, compliance and operational incidents; and determine the appropriate level and scope of due diligence for each vendor.

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  Vendor Due Diligence

  Conduct comprehensive due diligence by leveraging 200+ assessment templates, or build custom questionnaires with risk and control elements specific to your business.

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  Supplier Reputation Monitoring

  Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, sanctions screening, conflicts of interest and more.

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  Financial & Credit Monitoring

  Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.

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  SLA & Performance Management

  Centrally manage vendors and monitor their performance against contractually established SLAs and KPIs.

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  Central Risk Register

  Unify risk identification, reporting and remediation by normalizing, correlating and analyzing data from across all third-party assessment and monitoring activities.

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  Virtual Third-Party Risk Advisor

  Leverage a conversational AI trained on billions of events and more than 20 years of experience to deliver expert risk management insights in the context of industry guidelines such as NIST, ISO, SOC 2 and others.

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  Built-in Remediation Guidance

  Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.

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  Risk Reporting

  Identify, alert and communicate exceptions to common behavior with built-in report templates.

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  Compliance Reporting

  Visualize and address compliance requirements by automatically mapping assessment results to any regulation or framework.

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  Offboarding & Termination

  Ensure offboarded vendors do not create the potential for risk by leveraging a programmatic process for assessing third parties at contract termination.