In today’s complex world, vendor risk management is just as critical to your organization’s financial health and competitive performance as your efforts to produce cost savings. The negative impact of a single event on your organization’s financial position or reputation is potentially huge, even devastating. Risk simply cannot be ignored, even whilst you work to reduce costs.
You can now maintain a high level of visibility of the information behind the key indicators of each supplier’s ability to perform and the likelihood of a problem, such as demonstrated qualifications and capabilities, quality and safety assurance processes, certifications and regulatory compliances and more. True visibility of supplier risk can be maintained through consistent, consolidated, and ongoing management of supplier information throughout the supplier relationship lifecycle.