Ncontracts’ risk and vendor management software and services enable your organization to achieve your risk management goals with user-friendly, cost-saving solutions. We provide seamless integration for total risk management, backed by dedicated support, unlimited training, and guaranteed accuracy.
With Ncontracts, your organization can be empowered to enjoy the upside of risk.
Enterprise Risk & Vendor Management Software FAQ
When someone asks, what is vendor management, they are trying to gain insight into the practice of evaluating, analyzing, assessing, classifying and managing third-parties. Vendor relationships create inherent risk for an organization, which varies depending on the vendor’s function. Proper vendor management helps banks, credit unions, healthcare facilities and businesses make good decisions that reduces the risk associated with these third-parties.
Vendor management is the process of continually assessing the risks a third-party vendor and its subcontractors pose to your institution. It relies on policies, procedures, and tools to monitor and mitigate those risks. It ensures that vendor risk exposure is consistent with an institution’s risk appetite and manages every step of the vendor management process lifecycle.