Oct 12, 2012

Supplier Risk Management

by admin



Brinqa Supplier Risk offers an easy way to manage everything about your vendor relationships.  Large enterprises have the challenge of gathering information such as contracts, compliance assessments, relationships outside their own business units let alone integrating that information with their risk programs.  The Supplier Risk Management solution includes assessments, approval workflows, campaigns, metrics tied back to baseline business goals and compliance monitoring.

Key Metrics Commonly Tracked

  • Physical & Environmental Security
  • Security Policy Compliance Metrics
  • Organizational Security Metrics
  • Asset Management Metrics
  • Human Resource Security Metrics
  • Access Control Metrics
  • Incident Management Metrics
  • Business Continuity Metrics

Key Features

  • Centralized vendor profile repository manages contracts, assessments and evidence
  • Centralized vendor risk assessment management, including scheduling, tracking, auditing and compliance reporting
  • Customizable baseline assessments for vendor categorization
  • Unified, business-user friendly, interface for creating, completing, attaching evidence and reporting on all assessment activities
  • Certification management of risk valuations
  • Vendor risk issue management system tracks and audits issues and associated action plans
  • Trending and Analysis of VRM Program improvements
  • Out of the box integration with industry leading-contract management systems
  • Executive dashboards report on the organizations vendor risk posture and provide drill down to specific vendor or contract views

Key Benefits

  • Lower costs by standardizing vendor risk management framework and providing a unified location for vendor risk program management, reporting and dashboards
  • Reduced costs and comprehensive coverage through seamless integration with your contract management system
  • Increased accountability for the vendor risk program manager through visibility into adherence to standardized and documented processes
  • Increased efficiencies through automation of issue and remediation action plan tracking
  • Continuous validation of the vendor risk program effectiveness through evaluation against an established maturity model

Supplier Profile Assessments

Companies invest hundreds and thousands of dollars each year to outsource critical functions for the business.   To protect this investment, Brinqa offers Supplier Profile Assessments as an integrated solution.  Leverage the assessment tool to manage the full life cycle of vendor assessments and stay informed of contracts, licensing, supplier contacts and performance scores associated with any entity you do business with.

Key Metrics Commonly Tracked

  • Performance of supplier against contract terms
  • Contract expirations and renewals
  • Supplier compliance to terms of polices
  • Supplier compliance to terms of procedures

Key Features

  • User defined attributes associated with suppliers
  • Descriptive text or content attached to the attribute level
  • Supplier profile allows for sections to detail all relevant data
  • Fine-grained access control for viewing information
  • Mapping of supplier information to procedures, business units, security applications or any other object defined
  • Ability to analyze supplier information across the organization
  • Ability to store historical trends

Key Benefits

  • Effective supplier management through tools that enable top-down and bottom-up approaches to identify, measure and track risks
  • Holistic view of supplier risk
  • Enforced accountability for residual risks assigned to the appropriate owners (e.g., line of business)
  • Reduced costs through pro-active risk management which increases risk protection levels with fewer resources
  • Measured trends deliver real data to support return on investment
Read Next

Next >

Vendor Risk Management – The Basics