Many vendor dependent companies are required to engage in vendor risk management. The first step for it is a vendor risk assessment for each potential vendor.
Survey Analytics's Vendor Risk Assesment considers organizational risk, financial risk, support risk and vendor's strategy risk. Organizational Risk involves assessment of the personnel within the vendor's company. Financial Risk look for patterns rather than just one or two risk factors. Survey Analytics's help you address the incresed risk of employees that perform the tasks for which you hired the vendor. An assessment of Vendor's strategy risk looks at the vendors at a higher level.
Vendor Assessment facilitates the annual data refresh by allowing vendors to review and update their information. Although the module can be used as a stand-alone tool, it integrates seamlessly with other CMS modules. Vendor ratings and other information are automatically incorporated in other elements of business continuity planning.