Vendor Management Regulatory Compliance

Use VendorInsight® to Avoid Time-Consuming Due Diligence

VendorInsight® leads the industry in customer service. Combine that with our stellar consulting reputation in the field of vendor management and vendor selection and you have a vendor due diligence powerhouse at your disposal. We know how to do due diligence.

Give us an assignment to support your vendor selection team or let us update all of your due diligence requirements annually.

We will reveal what you often won't discover on your own and all of our documentation will be automatically populated into your VendorInsight® system.

With VendorInsight®, you get custom analysis, insight, completed due diligence questionnaires and information that illuminate risk factors so your decisions are sound, reliable and as risk-free as possible.

News and Market Risk Alerts

Due diligence starts with a review of the vendor's public history, news, SEC filings, regulatory actions, lawsuits and other important information that is time-consuming to find, review and evaluate. VendorInsight® screens up to three years of history for you, all with the click of a single button.

Social Media Monitoring

Leveraging our industry-leading news service and research team, VendorInsight® is the only VMS solution to offer integrated social media monitoring for critical customer-facing vendors and third parties. In addition to your vendors, we even monitor your company for social media trending and activity that may signal reputational risk, because they may be servicing your customers under your brand name.

The results and reports of our special, custom news screenings and research efforts are integrated into the VendorInsight® platform so your vendor records are constantly updated and current with the latest information.

OFAC Screenings

Automated OFAC screenings against the OFAC database are an integral part of the VendorInsight® Due Diligence Services. Hits are reported on the Vendor Due Diligence report.

Customer Complaint Screenings

If your vendor or third party is a critical customer-facing (CCF) vendor, VendorInsight® will automatically screen the vendor and your company name against the CFPB database of customer complaints and generate a report for you that tracks the volume of complaints, response times and vendor resolutions.

Financial Reviews

Certain vendors, especially your high risk and critical vendors, require a full financial analysis. Rely on VendorInsight® and your vendor financial reviews are placed into your vendor folder so that you can review them prior to vendor selection or annually, depending on your recurring due diligence requirements.

SSAE 16 Reviews

SSAE16 reviews are time-consuming and complex. With VendorInsight®, SSAE16 reviews are completed on time and are updated every year. With our one-day turnaround guarantee, your vendor selection team or risk management department never waits. Your vendor files are kept up to date annually as new SSAE16 documents are released by your vendors. Because these are private, confidential documents, we retrieve each native SSAE16 under a special letter of authorization with your consent.

Information Security Reviews

Let VendorInsight® do the legwork so that your Information Security Chief can make the call. We secure completed information security forms and information from your vendors and risk rate the responses so that you have a summary view of information security risks for each vendor.

Vendor Risk Assessments

VendorInsight® completes the entire risk assessment for your vendors, taking the burden of risk assessments off your hands and relieving your personnel of the never-ending list of follow ups and actions necessary to complete risk assessments.

Business and Technology Due Diligence

Involved in a complex vendor or technology selection project? With VendorInsight® you have access to a leading industry expert who has been down your path before and can offer exceptional insight and caution as you make your decision and evaluate vendors. These resources are what make a relationship with VendorInsight® a complete partnership that makes your life easier and your decisions better.

Risk Narrative Profile Datasheets

Our due diligence and risk analysts will write custom risk narrative about inherent risk, residual risk, risk trend, business and market risk and other risk dynamics. When placed into your vendor records in VendorInsight® you get a complete picture of risk so you can focus on managing and remediating, not worrying about the next audit.

Onsite Visits

VendorInsight® will send a qualified representative on your organization’s behalf to validate the controls your vendor is required to have in place.

Complementary User Entity Controls Report

VendorInsight® will provide a separate report of Complementary User Entity Controls contained within a SOC 1 or SOC 2 report, which may be integrated with your organization’s internal audit program or process.

Getting to know VendorInsight® is easy! We offer a free consultation and helpful tools to help you make the right decision about a vendor management solution.

Turnkey Implementation in Less than 30 Days!

You get the best customer service in the industry and a team of experts to help you get VendorInsight® up and running quickly. Most implementations are active ("go live") the very first day we receive an executed services agreement. You are led by a dedicated Program Administrator who is assigned to your account and helps you load contracts, configure the system the way you want it and train your users.

A Dedicated Program Administrator Included

With VendorInsight® you get award-winning software AND an expert Program Administrator to help you manage your program. Your Program Administrator quickly becomes part of your team, someone you can rely on to review contracts, enter vendor data, assist with report generation, and help you train and watch over your organization to ensure everyone uses VendorInsight® to its fullest capability. Every VendorInsight® Program Administrator is a trained paralegal.

  • Implementation and Start Up Project Management
  • Contract Review and Data Entry
  • Database Setup and Document Loading
  • System Configuration (Customization)
  • Training Sessions (Initial and Ongoing)
  • Annual Review and Regulatory Updates
  • Examination and Audit Support
  • Ongoing System Administration

Contract Review Services and Due Diligence Services

The new OCC guidance makes it essential to have a strong partner that understands everything about vendor management, including how to write contracts, what contract terms should be included or excluded, what pricing is consistent with the market (or advantageous to you), how to plan for contract termination, and which vendors can consistently perform and are the most stable.

With VendorInsight®'s contract review and due diligence services you can choose from the following activities:

  • Contract Review Report: Includes pricing review, market benchmarking, industry analysis and recommended strategies for contract renewal, renegotiation or competitive bidding.
  • Full Due Diligence Report: Includes all required due diligence (market analysis, peer references, technology, financial, SSAE16, information security, business continuity and disaster recovery, insurance, etc.)

Your contract owner and your vendor management officer (VMO) receive the report for each vendor, before critical dates when decisions are needed about contract renewals. The full analysis and report is automatically posted in the VendorInsight® system with restricted access only to privileged individuals with the proper security credentials.