To contract a vendor is to initiate a relationship: when you don’t know who you’re really dealing with, you expose your enterprise to risks that can have enduring consequences. Too often, onboarding a new vendor includes disparate systems and databases, miscellaneous worksheets and inconsistent workflows. Company by company, the number and flow of these onboarding steps may vary, but one thing remains consistent: it’s always too many.
ProcessUnity's latest eBook, Best Practices for Simplifying Vendor Onboarding shares practical guidance on how you can:
- Establish consistency and streamline workflows in your onboarding process
- Replace inconsistent manual onboarding processes with standardized automation
- Apply business logic rules and scoring intelligence to automatically determine the set of questions
- Document requests appropriate to each vendor’s level of inherent risk
- Establish an audit trail that examiners respect and that can easily be shared among appropriate parties – with substantiating documentation
- Get started now and evolve your policies and systems to become more sophisticated as your due diligence scoping maturity level grows
A good onboarding program can also help you withstand the scrutiny of regulators looking over your shoulders. Download the guide to learn how to create a consistent, defensible – and simple – vendor onboarding process.