If You Collect Data on It, You Can Create a Report for It
No two companies are exactly alike – in the way they operate or in the way they manage their vendors. The same is also true of a company’s reporting needs. One leadership team may have a different priority or consider a different metric to be mission critical. Regulatory teams or auditors may ask for data based on their current priorities.
That’s why a fully configurable reporting structure in your vendor management solution is a must-have. It allows you to create the reports you need to meet your compliance and regulatory demands. You can also create templates and structures to deliver recurring reports that drive insights into your business.
Common Reports – Built to Your Specifications
Your vendor risk management software should be able to produce reports that inform your team and give you visibility into your business:
- Record your third-party and fourth-party vendors and report their levels of risk
- Report real-time news risk alerts, especially on critical vendors
- List current assessments, assessments that are overdue and upcoming assessments
- Report on policy compliance status
- Document and issues and remediations
- Build board and audit-ready reports with one-click
What about non-standard reports?
Your system needs to be flexible enough to find and deliver additional information at a moment’s notice when your regulators or your management team ask for it.
Standard reports tell the story for managing the day-to-day insights. However, business conditions change, new threats and trends emerge, and the regulatory environment is always evolving. Having a configurable reporting structure allows you to manage, arrange and analyze your data to answer your business’ vendor questions.
If you’re collecting data on it, why shouldn’t you be able to see those results?
VendorInsight Delivers Standard Reports and Configuration Tools
At VendorInsight®, the software comes with dozens of pre-built reports that are among the most commonly used in the industry, such as contract data at-a-glance or board-ready reports.
Tools inside the software allow you to manage the configuration of reports to display only the information you want that meets the criteria for your search and your circumstances. Build reports that align with your business structures and reporting needs.
In addition, our powerhouse team of experts in due diligence, risk assessment, and vendor management
Ask us to see some examples of the numerous included reports inside VendorInsight® and how easy it is to get the custom reports you’re looking for. Request a demo of VendorInsight®.