Vendor Risk
Management
As organizations increasingly rely on third-party vendors and data processors, managing vendor risk and ensuring regulatory compliance becomes critical. Sigmify GRC’s Vendor Risk Management module provides a centralized platform to assess vendor risks, manage contracts, and continuously monitor third-party compliance, ensuring data protection and operational resilience.
Key Features & Capabilities
Centralized Vendor Repository
Maintain a single, centralized view of all vendors and data processors with basic profiling and risk context.
Multi-Stage Vendor Risk Assessments
Support structured, multi-stage vendor assessments covering onboarding, periodic reviews, and reassessments.
Configurable Risk Evaluation & Scoring
Evaluate vendor risks using configurable criteria and questionnaires to derive consistent risk scores.
Assessment Workflow & Approvals
Route vendor assessments through defined stages with role-based reviews, approvals, and escalation paths.
Ongoing Vendor Monitoring
Track assessment status, risk posture, and pending actions through centralized dashboards and alerts.
Issue & Exception Tracking
Log vendor-related issues or non-compliance findings and monitor remediation through structured workflows.
Evidence & Documentation Repository
Store vendor assessment responses, certifications, approvals, and supporting documents in a secure repository.
Reporting & Audit Readiness
Generate audit-ready reports and maintain complete audit trails of vendor assessments and risk decisions.
Comprehensive. Timely. Assured
Comprehensive –Are all vendor risks and obligations being identified and tracked?
Sigmify GRC maintains a centralized vendor repository with standardized risk assessments, compliance requirements, and contractual obligations, ensuring complete visibility across all third parties and data processors.
Timely –Are vendor reviews and compliance checks happening on schedule?
Automated workflows trigger periodic vendor assessments, contract renewals, and compliance reviews, with alerts and escalations to ensure deadlines are met without manual follow-ups.
Assured – Are vendors consistently meeting data protection and compliance standards?
Real-time dashboards, risk scores, and audit trails provide continuous assurance that third-party risks are monitored, controlled, and addressed proactively.
Other Products of Sigmify GRC
Compliance & IT Governance
Assessments
Data Discovery & Mapping
Consent Management
Risk Management
Audit Management
Breach and Exceptions Management
