Use Case

Screen potential suppliers pre-contract for enhanced decision-making

Leverage risk profile insights from multiple domains when vetting suppliers.

Venmonitor™ is the ultimate solution for evaluating suppliers before signing on the dotted line. Our on-demand feature gives you unparalleled insights into suppliers' risk profiles across various domains, empowering you to streamline your due diligence process, compare potential suppliers, and prioritize critical areas. By identifying and avoiding high-risk suppliers, you can optimize your sourcing or procurement process and enhance your supply chain security. Venmonitor™ simplifies the screening process, saving you valuable time and resources.

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Compare potential suppliers with dashboard risk heatmap views.

Venmonitor™ gives you access to vital data and insights on your suppliers, enabling you to make informed decisions quickly and independently, without needing to rely on their cooperation. In the past, assessing a supplier's risk posture could be a daunting task without their involvement, which led to delays in decision-making and reduced productivity, especially when evaluating multiple suppliers. Venmonitor™ Risk Profiles can enhance your due diligence and risk management processes, even without supplier-provided information. 

Increase productivity without supplier involvement.

Venmonitor™ gives you access to data and insights on your suppliers that you can use to make faster and more informed decisions without needing to contact them. You may face difficulties in assessing the risk posture of your suppliers if they are not responsive or cooperative with your due diligence questionnaires. Previously, this lack of involvement could delay your decisions and productivity when evaluating multiple suppliers. Venmonitor™ risk profiles can help you overcome these challenges by supplementing and enhancing your due diligence activities and risk management processes.

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Prioritize supplier due diligence for efficient screening.

Venmonitor™ provides a simple and efficient method to evaluate the risk level of new suppliers by using real-time data and insights. Venmonitor™ allows you to quickly determine which suppliers need additional screening and which ones pose lower risks. The best part is that you don't need to wait for information from the supplier. By combining your organization's internal risk assessment of suppliers with the Venmonitor™ external perspective, you can make more informed decisions while saving valuable time and resources. Venmonitor™ assists you in evaluating the most important risks associated with suppliers before approving them. 

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“The initial screening of third parties is considered just as important as strong contractual obligations and post award contract management. Our assurance process aims to validate the ability of third parties to adhere to contractually agreed terms to ensure security across the ecosystem. Information and digital technology today allows us to use data analytics, risk ratings, and analysis by Venmonitor™ to enhance our screening of third parties.”
global energy security advisor
Security Advisor

Global Energy Company

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screen suppliers and make informed decisions.