ProSight Vendor Manager
Centralized platform to manage departmental and enterprise third-party relationships
Simplify How Your Organization Manages Partnerships and Assesses Performance
ProSight Vendor Manager is designed specifically to help financial services organizations manage their relationships with external suppliers, contractors, and service providers. The solution provides a centralized platform that makes it easy for all stakeholders to collaborate and communicate in an efficient and compliant way to maximize relationship value.
ProSight Vendor Manager is a full-scale solution that not only focuses on third-party risk management but also features workflow automation tools to make key activities like contract management, volume-pricing consolidation, preferred vendor programs, and other operational activities simpler
Reduced Third-Party Risk with Built-In Assessments and Due Diligence.
ProSight Vendor Manager makes it easy to conduct risk assessment of new and existing vendors via intuitive workflows which include:
- An industry specific due diligence questionnaire to determine risk level
- Defined risk levels with examples
- Exempt providers list
- Cloud vs. non-cloud implementation
- And more
Automate Key Workflows to Save Time and Reduce Manual Effort
Time is a valuable resource in the financial services industry and the ProSight Vendor Manager reduces the overall time business leaders and users alike spend managing vendor relationships. The solution offers several automated workflows including:
- A vendor selection process, including financial variables with recommendations on whether an RFP is required, multiple bids are needed, etc.
- Assignment of inherent risk of the vendor/solution.
- Contracting and procurement processes and language recommendations.
Improve Vendor Performance and Boost Operational Efficiency
Being able to manage vendors is hard enough for any business but understanding how well they’re performing and the impact they have on the business is critical. ProSight Vendor Manager makes it easy for financial services organizations to evaluate performance and impact by offering:
- Service level agreement (SLA) categorization based on risk level.
- Recommended steps and procedures based on risk level.
- Vendor monitoring recommendations with task completion forms.
A Centralized Platform to Manage Organizational Risk and Compliance.
All the modules in the ProSight Enterprise Risk and Compliance Solution are fully integrated to provide better coordination of risk mitigation efforts and less duplicated data entry between departments
Learn More About ProSight Enterprise Risk and Compliance Solution
Our Offerings
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Explore our range of solutions designed to help you act with confidence.
ProSight offerings are research-driven and grounded in sound compliance and risk management principles. Network, innovate, learn, and engage with valuable peer connections, resources, and insights.
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Membership
Share knowledge, build relationships, and access comprehensive risk management thought leadership, research and resources.
Creating Ripple Effects Throughout the Financial Services Industry
Together as ProSight, BAI and RMA have enhanced our abilities to support you at a time when the industry is challenged to meet changing customer needs, adopt new technologies, and manage more complex risk, compliance, and fraud issues. We are here to help you conquer these challenges, guide you towards new opportunities for growth, and empower you to act with confidence.
