Evaluates and analyzes vendor risks
Assessment for Vendor Risk Management provides advanced and comprehensive capabilities to manage third-party risks, compliance, and issues across the GRC-enabled enterprise. Users can use Assessment for Vendor Risk Management leverages the OpenPages with Watson on Cloud new task-based UI, giving the user access to dashboards, native workflows, as well as a centralized repository of third-party risk information. Advanced IBM Cognos® reporting provides real-time insights into third-party risks, enabling stakeholders to identify and respond swiftly to issues and risk indicators.
Improves vendor management
Creates, maintains and documents all vendors and engagements. Classifies or "tiers" vendors as low, medium, or high in criticality. Streamlines the management of contracts with third-party vendors.
Identifies and mitigates risks
Understands how third-party engagements support your business. Uses standard risk assessments to identify and mitigate risks in a specific way for individual vendors.
Delivers compliance assessments
Uses powerful questionnaire assessment capability to conduct vendor or engagement tiering by invoking information that you gather with risk or compliance questionnaire assessments.
Enables ongoing risk assessments
Builds key performance and key risk indicators. Monitors and reports risks on an ongoing basis.