Vendor Management Software

From due diligence, risk assessment, planning, and contract review, to ongoing monitoring and oversight Quantivate™ Vendor Management software allows your organization to develop a comprehensive vendor management process and obtain a complete view of your vendor relationships and risk.

In today's complex business environment, vendors play a key role in the success of your organization. However, relying on vendors brings added risk. Managing these vital relationships and risks is important to ensure third-party products and services comply with applicable laws, regulations, and security best practices.

Many organizations simply rely on filing cabinets, spreadsheets, and word processing software to manage their vendor relationships. However, these methods are time consuming and no longer meet growing requirements from auditors, government agencies, customers, and investors. A comprehensive vendor management solution will allow you to protect and manage your resources and maintain successful long-term vendor relationships.

Centralized Vendor Information

With Quantivate Vendor Management you can manage all your vendor information, such as contact information, financials, contracts, and insurance certificates, in one easy to manage web-based application. The system also provides comprehensive on-time notifications of critical expiration and due dates.

Manage Vendor Risk

Quantivate Vendor Management is a powerful solution that gives you the ability to quickly perform due diligence and score your vendors on multiple variables to auto-calculate and determine the overall risk breakdown of each vendor.

Easy to Use Dashboard Interface

Quantivate Vendor Management's customizable dashboard interface gives you at-a-glance information and easy accessibility to important vendor information. Through this dashboard interface you can access reports, your vendor document library, and other essential vendor information. Plus, the system's unique Vendor Management Program Snapshot gives at-a-glance information, in easy to read charts for where each vendor sits in the Vendor Management Process, the classification breakdown (critical, important, non-essential, TBD) of vendors, and the risk breakdown of vendors.

Comprehensive Reporting

Quantivate Vendor Management's robust reporting capabilities give clear visibility into high-risk vendor relationships, the status of vendor assessments, and your organization's overall risk exposure. Complete audit-ready predefined report templates are available for quick no-hassle reporting, including SAS70 reports. In addition, reports can be customized to fit your specific business needs.

Business Continuity & Enterprise Risk Management Integration

Enjoy added efficiency and cost savings by seamlessly leveraging your business continuity data to inform Quantivate Business Continuity and Enterprise Risk Management solutions.

Key Features

• Digital File Library – for easy storage and access to digital files, contracts, etc.
• Notifications – notify specific employees of due dates
• Customizable Report Templates – use prebuilt reports or customize them to fit your needs
• Dashboard Layout –"at-a-glance" status viewing and quick decision-making
• Web Based – easy deployment and automatic updates and maintenance
• User group security – set employee security levels and assign vendors to specific employees
• Auto Back-up – keeps your work safe and secure
• Audit History Log – Track document changes by employee and vendor
• Optional Deployment Services - Save time and effort with services from The Paragon Group
• Guaranteed Compliance - Guaranteed compliance by Farleigh Wada Witt

Benefits

• Gain a detailed picture of your risk exposure from vendor relationships
• Organize your vendors for easy review and access
• Create a consistent standardized vendor management process to increases efficiencies
• Centralize Reporting for greater decision making and resource management
• Enforce vendor risk management policies and controls and in order to ensure regulatory compliance
• Save Time, Effort and Cost by significantly reducing resources and expenses required to perform risk analyses and maintain vendor oversight
• Deliver complete information to senior management for strategic decision making

Guaranteed Compliance

Quantivate Vendor Management tools have been developed with the law firm Farleigh Wada Witt to provide clients with highly effective vendor management processes and tools that satisfy all regulatory requirements. In fact, Farleigh Wada Witt guarantees that the management tools in Quantivate Vendor Management will always comply with current NCUA/FDIC/OTS/OCC requirements.

Optional Consulting and Implementation

Your time is valuable and chasing down vendor information is time consuming, expensive, and often never gets done. As Quantivate's partner The Paragon Group provides outsourced due diligence services to make your vendor management implementation easier, faster, and more cost effective. The chances are your institution shares critical vendors with other institutions. This means that every institution is bearing the full brunt of the cost to meet regulatory requirements for vendor due diligence. We ask – "Why not split the cost across many financial institutions?" Working with your staff on an ongoing basis, Paragon's experts ensure your vendor due diligence program meets regulatory requirements in the following critical areas:

• Developing a Due Diligence Plan
• Establishing Consistent Criticality Rankings for Key Vendors/Contracts
• Annually Gathering all Due Diligence Documentation from Vendors Such as (financials, SAS70s/SSAE 16s, insurance certificates, credit reports, validation of incorporation, legal actions, information security documentation, human resources, business continuity, etc…)
• Documenting the review of due diligence documentation
• Conducting Risk Assessment interviews with vendor owners
• Facilitating Annual Updates and Audit/Examiner Review