Prioritize supplier risk management activities and remediation

Supplier risk profiles offer valuable direction for decision-making.

Centralized risk intelligence from Venmonitor™ can help prioritize supplier risk management activities and remediation by providing data and insights on the performance and reliability of suppliers across multiple domains, such as cybersecurity, privacy, and business health and credit risk. It can also help identify, assess, and resolve security threats, weaknesses, and risks from the supplier ecosystem.

By using risk-based scoring and ratings, Venmonitor™ has been uniquely designed to help determine which suppliers have the highest risk and need more in-depth screening and mitigation actions. Venmonitor™ can continuously monitor suppliers' risk indicators and trends, proactively alerting your organization of changes or potential disruptions. 

Enter negotiations well-prepared with cutting-edge insights.

As the renewal date for your supplier contract approaches, it is crucial to thoroughly evaluate whether they still meet your organization's requirements and align with its risk appetite. By enhancing internal risk assessment processes with cutting-edge risk intelligence insights, you can present any recent discoveries during contract negotiations. This ensures that any potential issues or concerns are addressed and potentially incorporated into new contract provisions or clauses. 

Take the right path forward.

If you're new to third-party risk management or need help keeping up with your suppliers' due diligence, using risk intelligence can help you get started quickly. A comprehensive third-party risk management program is essential, but it can be daunting to implement, especially if you have many suppliers and limited resources or bandwidth.

Venmonitor™ empowers you to take charge of your risk management efforts with confidence. By utilizing advanced risk intelligence, you can identify the most pressing areas and focus your efforts accordingly. You can monitor your critical or high-risk suppliers for any signs of risk across various domains and prioritize the ones needing immediate attention. Then, the team at Venminder is ready and on hand to help you take further steps to proactively manage and mitigate the risks of partnering with suppliers.