Vendor Risk Management Software is a cloud-based solution that helps businesses automate processes for assessing vendors. Users can evaluate the severity of associated risks by resolving detected issues and reducing the impact of potential incidents. Key features include sourcing management, performance metrics, a self-service portal, risk assessment and auditing.
Designed for risk teams of all sizes, Vendor Risk Management Software helps organizations identify vendors with potential risks and detect loopholes. It allows firms to request risk assessments and submit data, which is stored in a unified repository for future reference. Additionally, the solution sends SIG/SIG lite questionnaires to vendors to ensure organizational requirements are met and to prevent a data breach.
Vendor Risk Management Software integrates with risk management and IT compliance applications to streamline sensitive data handling and reduce potential risks across the pipeline. Pricing is available on request and support is extended via documentation, phone and other online measures.
Ian W. Especialidad: Banca Número de empleados: 201-500 empleados
The developers kept us on track, within budget, they were very knowledgeable and to the extent possible were able to build custmizations to suit our unique needs. The customer support is very helpful and will return requests in a timely manner.
The software is very customizable and the developers and support team are very knowlegable about how the product can be configured for your organizations direct needs. In instances where they were uncertain of the systems capeabilities, they took it back to their team and came out with a solution, or have it on the list of future enhancements. Best of all, they not only took our suggestions to customize our product, but rather took those suggestions and customized the base product which gets rolled out in an update to all users. The product is very user friendly, and as part of the development/implementation team in our organization, the required level of training for our staff was minimal on how to use the system. There are an endless reporting capabilities. Additionally, they empower our admin team with the abilility to cusomize the system and a support system is in place to assist the modification.
There are a few features that are lacking, including a calendar/scheduling for task management of reminders to ensure requirements are not overlooked. Additionally, there are the odd anomolies/minor limitations, i.e, some formula/rules that can not be built into the system, inability to add certain fields on views, which have been reported to Resolver and expect to be rectified.
Daniel K. Especialidad: Propiedad inmobiliaria Número de empleados: 1001-5000 empleados
GRC Cloud allows us to complete more audits and accomplish our audit plan. We can also monitor how every audit transitions through the workflow to identify bottlenecks in our process.
GRC Cloud greatly increases the efficiency of our audit department. It handles everything you need for an audit function, including risk assessments, electronic workpapers, audit report generation, review and approval workflows, etc.
We have a large library of auditable entities, which limits our ability to run some reports at the company level and results in occasional latency.
Brian I. Especialidad: Banca Número de empleados: 1001-5000 empleados
This software allowed us to meet several key regulatory related challenges while still allowing us to document and capture the data and metrics that was important to us. On a monthly basis, we take in more than 1,200 incidents. The Perspective product is the vital backbone to our investigations unit.
Its parent company has changed and longtime users may perhaps be unaware of the company's future relative to the product.
The software was very easy to customize; all the while allowing us to obtain the metrics and data fields that we wanted.
Paul B. Especialidad: Servicios Número de empleados: 5001-10.000 empleados
Excellent tool for documenting incidents; and subsequent report generation.
The analytics and reports allow quick and easy generation of charts and graphs to demonstrate to our user groups and senior management where the company is at most risk.
Some of the key information is not easily searchable, which means for long waiting periods. Moving files into the program is limiting.
I like the ability to have multiple users work on the same file at the same time. The ease of creating reports frees up my time to do other tasks.
Upgrading from version to version is quite disruptive to our operations and we have typically found a fatal error the past few times we have upgraded.