Vendor Risk Management

Manage financial, compliance, due diligence, and litigation checks on suppliers to fool-proof your business

Get managed services to handle vendor risk assessment and monitoring. From onboarding vendors to collecting evidence to secure your business- leave your vendor risk lifecycle management on us and focus on what matters more.

The Catalyst Service from Netrika comes with

Data and disclosure collection from suppliers

Monitors critical and strategic suppliers

Fast-track vendor onboarding with the best turnaround rate

Vendor Risk Management

Third-Party Risk Management (TPRM) is the process of analysing and controlling risks presented to your company, your data, your operations, and your finances by parties other than your own company i.e., your business partners or vendors.

What Do We Cover?

Reporting

Vendor Profile

Performance

Product Sampling

Vendor Audits

Process We Follow

Identify all types of vendors
Analysing the risk associated with respect to outsourcing with vendors/third parties/business partners
Classify the vendors based on their risk exposure to the organisation
Create an effective vendor management framework
Create an effective vendor management framework
Assess supplier contractual arrangements
Identify all relevant compliance requirements and document how they are being met
Conduct onsite review of the vendors
Report gaps and recommend remedial measures to close the gaps
Regularly assess and monitor the effectiveness of vendor programs

Sanjay Kaushik

Managing Director

CFE, CII, FCIISCM, CATS, CCPS, CFAP

+91-124-488-3000

Salil Kapoor

Associate Director - Cyber Security

+91-124-488-3000

Organisations are trying to be proactive with their monitoring to spot suspicious people and packages before crimes occur.

Sanjay Kaushik

CFE, CII, FCIISCM, CATS, CCPS, CFAP Managing Director

What we offer

Data with integrity.
Our methodologies reflect a strict adherence to industry-recognized standards. Moreover, we deliver one of the highest educations and employment verification rates in the industry.
We design products and services that adapt proactively to current and future needs for screening.
Compliance-driven Strategies Risk mitigation is a crucial component for successful recruitment when developing the brand.
Fast Turnaround Times: To help customers make decisions even faster, we deliver real-time results as they are available, accelerate communications between third parties, and can leverage candidate-provided documentation where appropriate.
Global Reach: With today’s globalized workforce, it’s essential that your background check company be able to procure candidate background information from around the world.
100 Years of cumulative Experience You Can Rely On.
Member of PBSA- Professional Background Screening Association.

FAQs

What is Vendor risk management service?

Vendor risk management (VRM) is aimed at preventing business disruption, financial loss, and reputational harm from third-party goods, IT suppliers, and service providers by monitoring risks.

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How long does it take to apply a vendor management program?

It depends on the plan you devise to categorise your suppliers based on their criticality, establish thresholds for acceptable levels of risk and decide how you’ll constantly check on your suppliers’ security postures.

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Why is vendor risk management important?

Vendor risk management is crucial since it enables companies to make sure they aren’t working with vendors who provide an unacceptable level of risk. Businesses can more readily identify, evaluate, and implement controls to limit risks by putting in place a vendor risk management framework.

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What the types of vendor risks assessed under the service?

The different types of vendor risk assessment are financial risks, operational risks, legal risks and reputational risks.

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What are the benefits of vendor risk management?

Vendor risk management program addresses future risks, ensures that the quality of service is not compromised, costs are reduced, service availability is improved, and financial & operational efficiencies are improved.

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