Vendor Management Compliance

Deliver Best Practice

Comply with current regulatory requirements by developing and maintaining supplier management systems to support reporting and disclosure obligations 

“Achieve ‘compliance by design’ and squeeze out organizational risk by eliminating vendor management gaps”

Implement ‘Compliance by Design’ 

  • Maintain an accurate vendor catalogue and categorize your vendors by level of strategic importance 
  • Label suppliers using their relative risk level and specific risk categories, like InfoSec, Financial or Operating
  • Implement processes and procedures which comply with SEC and FASB rules and directives regarding supplier and vendor management programs
  • Record a vendor management plan for each vendor to relate commercial goals and compliance requirements together 

Get the Whole Team on the Same Page

  • View your entire supplier coverage team in the VRM
  • Specify owners and coverage teams for each of your suppliers
  • Map cross functional teams to suppliers and vendors 
  • Include your external coverage and relationship teams by linking them to your internal teams
  • Increase visibility and accountability for each relationship   

Improve Compliance and Business Performance at the Same Time

Healthy Relationships Drive Compliance and Performance

  • Programmatic compliance programs also drive accountability and business performance
  • Improved relationships drive cross organizational agility and resilience 
  • Regular business reviews reduce risk and drive performance
  • Increase trust and confidence

Book a demo with Terzo today!