Knowing how well your vendors perform is just as critical as knowing how risky they are to your business. Watch ProcessUnity's 45-minute on-demand webinar and learn how to enhance your Third-Party Risk Management program with vendor performance monitoring.
We’ll outline best practices in vendor performance monitoring, including how to:
- Create a standard Service-Level Agreement library (so it’s easy to include SLAs in contracts)
- Implement an automated process to collect data from vendors (because you don’t have time to do it manually)
- Determine tolerance levels (and automatically notify stakeholders when thresholds are crossed)
- Assign, track and manage penalties based on SLA exceptions
You sign contracts with vendors for a reason. Improve your vendor performance monitoring capabilities and make sure your third parties are living up to their end of the deal.