Given the broad impact of COVID-19 and resulting changes in business operations on the global supply chain, organizations need to actively assess their vendors and determine which are critical to operations and most likely to be impacted.
As companies prepare themselves for the long-term impact of COVID-19 on their business and employee health and safety, they also need to consider the impact on their vendors and third-parties. Whether you have previously conducted assessments for all your vendors or need to start from the beginning, now is the time to start.
You can easily protect your company from the unique risks presented to your vendors by the global lockdown, their own supply chain disruption as well as the health and safety issues of their employees impacting their critical operations by collecting the relevant data about your vendor’s resilience posture today. Not only will the automated assessment process improve efficiency, but it will also assess your vendors’ health by rapidly collecting the data you need. Executive reports and dashboards will provide insights and identify any issues as well.
Whether you are responding to a crisis or resuming more normal operations, trust SAI360 for Vendor Risk Management to identify and monitor supply chain exposures, detect single points of failure and strengthen your processes around remote workforces.
Here are key benefits of SAI360 for Vendor Risk Management, to help you manage supply chain vendors to achieve operational continuity.
Improve vendor communication
Support documented communication and transparency in your vendor relationships with real-time collaboration between users and vendors with a two-way conversation feature in the vendor portal. Regular communication can help provide early warnings of potential issues and maintain sound vendor relationships.
Streamline vendor information requests
Fully understand how your vendors have been affected and the steps they have taken to respond and recover with a methodical and prepared pandemic questionnaire. This document is designed to elicit succinct and direct information sharing under times of pressure.
Continuously monitor vendor health
Quickly assess and gather real-time, event-driven cyber, financial and credit information about third-parties in a single view. Continuous monitoring rules can automate decisions and alerts about vendors during volatile periods.
Configurable to your unique needs
Every risk management team faces unique information and status requests from senior management. Configure the vendor home page, questions, assessments and associated rules to address the specific concerns of your organization.
Ensure data privacy
Keep up with the latest data privacy regulations with content mapping, new ISO-27701 built-in content, and an improved workflow.
See the updated risk management solutions available with SAI360's latest release, R2 2020.
- SAI360 for Healthcare
- SAI360 for Environmental, Health & Safety (EHS)
- SAI360 for Business Continuity Management (BCM)
- Ethics & Compliance Learning’s recent releases
Visit our pandemic information center, which includes reading materials, podcasts, videos and other best-practice guidance around managing business continuity, compliance, and risk management amid the coronavirus pandemic.
Check out our Customer Zone to see how SAI360 users are taking advantage of our flexible technology as they manage the ongoing threats of the pandemic.
Learn more about our Vendor Risk Management solution.
Or, contact us to see how SAI Global can help you swiftly assess your vendors and their impact on your organization today.