Vendor Management

As a vendor management professional, you know the challenges of managing a myriad of business relationships whether they are supply/value chain, outsourcers, service providers, temporary workers, contractors, or consultants. In today’s business environment, your business relationships can introduce risk and compliance issues on par with the rest of the business. Most likely you rely on document centric approaches and email, or low automation software, to conduct vendor assessments, collect information, and report vendor risk and compliance data. Unfortunately, these tools do not provide an efficient nor effective way to manage vendor risk and compliance assessments. A labor-intensive, manual or low-automation approach to vendor risk management hinders you from forming an accurate and complete view of the risk and compliance issues your vendors bring to the organization.

FrontLine Live’s Vendor Manager component can transform isolated vendor risk management processes into an efficient, effective, and responsive vendor risk management program. Use Continuity Logic’s fully integrated Vendor Manager component in conjunction with other components in FrontLine Live to implement a centralized and proactive approach to assessing and managing vendor risk across business relationships, geographies, products, services, and processes. The flexibility of Continuity Logic’s FrontLine Live allows you to integrate vendor assessment and reporting frameworks and processes used across the organization to implement a holistic vendor risk management program in a consistent, measurable and repeatable manner.

Additional benefits include:  

  • Centralize, control, and manage the vendor risk management processes
  • Integrate vendor risk management with operational risk, compliance, and continuity management
  • Understand vendor risk in the context of operational and enterprise risk management
  • Conduct vendor risk assessments
  • Conduct a business impact analysis rapidly and accurately
  • Measure your program through a powerful reporting capability
  • Deliver assurance through vendor audits
  • Provide an integrated framework to manage vendor risks
  • Increase risk visibility with powerful dashboards
  • Improve operational efficiency and reduce cost
  • Link business resources and risk dependencies
  • Supports BITS and other vendor risk best practices and industry standards