Ncontracts’ solutions and services enable your organization to achieve risk and vendor management goals with user-friendly, cost-saving software. We provide seamless integration for total risk management, backed by dedicated support, unlimited training, and guaranteed accuracy.
With Ncontracts to manage your risk, your organization can be empowered to enjoy the upside of risk.
VENDOR MANAGEMENT FAQ
Vendor management software is a secure, cloud-based tool that an organization, business or institution can use to reduce the risk and costs associated with managing multiple third-party relationships. The Nvendor vendor management software solution enables regulated institutions like banks, credit unions, health care facilities and businesses to satisfy federal regulations and reporting requirements in an efficient and cost-effective manner. To learn about comprehensive vendor management software and services, request a demo of Nvendor today.
The first step to the vendor management process is increased visibility of the agreements made with each vendor. By understanding the risk exposure these third-party contracts pose, an institution can work to reduce that risk, ultimately leading to improved compliance and strong vendor relationships. A bank or credit union is required to know the full extent of the risk each vendor creates, so they may choose to perform due diligence, inquire of the vendor’s business continuity planning, or have an IT firm harden their cybersecurity protocols. To learn how to improve your vendor management process, request a demo of Nvendor today.
What is the cost of comprehensive, efficient vendor management?
What is the cost of not practicing comprehensive, efficient vendor management? More than you can imagine. Third-party risk constitutes one of the greatest possible risks to banks, credit unions, health care facilities, and businesses. If you think you’re covered because “we’ve always done it this way and we haven’t had any trouble yet,” we encourage you to learn about why inertia creates risk. What you don’t know can hurt you: you need vendor management to protect your organization from legal action, cyber attacks, regulatory fines, and costly downtime. To learn about a vendor management process that manages risk so you can focus on your bottom line, request a demo of Nvendor today.