Our easy-to-use interface walks you through each step of the vendor management process to ensure regulatory compliance.
Manage vendors, products, and renewals with dashboards, reporting, and notifications
Identify risks of each vendor and product, receiving annual reminders to review
Generate control suggestions based on risk assessments, receiving annual reminders to review
Ideal for Community Banks and Credit Unions Who:
- Are still using a spreadsheet to manage their vendors
- Use Accounts Payable as a vendor management tool
- Struggle with evaluating vendor risk
- Are not sure what vendor due diligence to perform
- Fear they will miss a contract renewal date, or have an unwanted contract auto-renew
- Need help in identifying critical vendors and planning how to recover if they go down
- Feel they have a reactive approach to vendor management
- Don’t have a good process for evaluating new vendors
- Require reports that satisfy examiners and help educate management
- Are unclear which vendors have access to data and how it impacts the banks’ ability to function on a daily basis
- Desire a better way to collect and manage critical vendor documents (SOC 2 reports, BCP plans and test results)
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As regulators have placed higher importance on how community banks and credit unions manage their vendors, it is increasingly more difficult to get what you need from a spreadsheet. Our web-based vendor management application ensures compliance, helps you better measure and manage risks, automates vendor contract renewal reminders, and allows you to easily generate reports for senior leaders and examiners.
We were surprised with how seamlessly the implementation went, as well as how intuitive the interface is. Additionally, Safe Systems was able to answer our questions.
SVP and Chief Technology Officer at Altamaha Bank and Trust