Risk Management

Vendor Risk Management Program

VendorRisk can help you manage vendor on-boarding risk by providing a comprehensive 360º risk management program.

We will embed a risk management methodology within your supplier management framework that will provide a seemless workflow process.

The workflow process will cover the following:

(i) Assessment of Purchase Risk via a Purchase Risk Assessment Questionnaire;

(ii) A comprehensive assessment of vendor stability from a financial and reputational view;

(iii) A client risk report including RAG status, comments and recommendations;

(iv) Risk Quadrant reporting by spend category;

(v) Provide advice and attend meetings/calls with client/vendor to discuss risk results and remedial actions;

(vi) Timely actions to ensure risk assessments are conducted when anniversary timelines are met and reminders sent to client;

(vii) Work in partnership with client to ensure delivery meets requirement;

Note: The risk program can be tailored to provide a stand-alone financial risk assessment of the vendor.

The Vendor Risk Management Program will cover new, incumbent and adhoc vendor assessments.