The foundation for an effective and efficient vendor risk program is solid reporting. The right reports give you instant insight into program performance, quickly highlight problem areas and help you prioritize where to spend your precious time. Effective vendor risk management reporting helps you assess more vendors, score questionnaires faster, and demonstrate to management and regulators the existence of a consistent, reliable and repeatable program. The right reports tell you when risk is under control…and when it’s not.
Unfortunately for many organizations, the vendor risk reports they need are difficult to create and maintain without a great deal of manual effort. Spreadsheets and simple vendor database tools don’t offer the automated, interactive reports that have become critical to a program’s success.
Based on work with our customers, our team put together an eBook featuring eight reports vendor risk managers need to run a successful program. In The 8 Reports You Need for Effective and Efficient Vendor Risk Management, we describe some of the most important reports you need (and why you need them). We outline best-practices in vendor risk reporting, including how to:
- Rank vendors by criticality
- Increase quantity and quality of vendor self-assessments
- Remediate issues faster
- Assess overall vendor performance
- Quickly compile reports for management and regulatory reviews
Take the first steps towards improving your reporting capabilities. Get your copy of Eight Key Reports at this link.
The post eBook: 8 Reports for Effective and Efficient Vendor Risk Management appeared first on Risk Management Blog.