Monitor third-party vendor performance, strengthen preferred supplier relationships, drive innovation, and eliminate poor performers.
It’s not just risk that you need to manage across your third parties – it’s their performance too – are they delivering to expectation, are milestones being met, and are they meeting SLAs and KPIs?
Gather and normalize performance data from your existing enterprise systems and combine it with quantitative and qualitative survey information to help you separate vendors that contribute to your success from those you should develop or replace.
Ensure a consistent review process by using workflow automation to map reviews to the right internal managers to be scheduled and performed.
Leverage dynamic performance scorecards to track performance scores and trends and provide a predictive view of performance with leading indicators.
Collaborate with vendors in a secure portal for enhanced communication and the ability to capture initiatives for innovation.
Trigger issue management and remediation activity if performance expectations are not being met.
Optimize supplier performance and eliminate poor performers.
Better performance visibility and communication means you can develop stronger relationships with your strategic third parties.
Benefit from joint innovation initiatives that will drive business value.
Ensure performance management is accounted for in your third-party programs.
