Vendor Risk
Management
As organizations increasingly depend 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 integrated with SIEM, HRM systems for real-time risk visibility, event correlation, and proactive risk mitigation.
Key Features & Capabilities
Centralized Vendor Repository
Maintain a unified, centralized repository of vendors and data processors, enriched with profiling, risk context, and SIEM, HRM integrated insights to support continuous monitoring of third-party risks.
Multi-Stage Vendor Risk Assessments
Conduct structured, multi stage vendor assessments across onboarding, periodic reviews, and reassessments, supported by automated workflows and SIEM, HRM driven risk signals for accurate evaluation.
Configurable Risk Evaluation & Scoring
Evaluate vendor risks using customizable scoring models aligned with compliance frameworks, incorporating SIEM, HRM based analytics and threat intelligence to ensure consistent and data driven risk scoring.
Assessment Workflow & Approvals
Route vendor assessments through defined workflows with role based reviews, approvals, and escalation paths, enhanced by alerts triggered through monitoring systems and SIEM, HRM events.
Ongoing Vendor Monitoring
Continuously track vendor performance, compliance status, and pending actions through dashboards and alerts, leveraging SIEM, HRM integrations to monitor anomalies, access activity, and potential third-party risks.
Issue & Exception Tracking
Log and manage vendor related issues, compliance gaps, and exceptions, with structured workflows and SIEM, HRM triggered alerts for faster remediation and improved risk control.
Evidence & Documentation Repository
Securely store vendor responses, certifications, approvals, and supporting documents in a centralized repository, enriched with SIEM, HRM logs and monitoring data for audit validation and evidence tracking.
Reporting & Audit Readiness
Generate audit-ready reports and maintain complete audit trails of vendor assessments, risk decisions, and compliance status. SIEM, HRM backed evidence ensures transparency, traceability, and regulatory readiness.
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. Integration with SIEM, HRM ensures continuous monitoring and complete visibility across all vendors and data processors.
Timely –Are vendor reviews and compliance checks happening on schedule?
Automated workflows trigger periodic vendor assessments, contract renewals, and compliance reviews, while SIEM, HRM driven alerts and escalation mechanisms ensure deadlines are met without manual intervention.
Assured – Are vendors consistently meeting data protection and compliance standards?
Real-time dashboards, risk scores, and audit trails combine compliance data with SIEM, HRM insights to provide continuous assurance that third-party risks are monitored, controlled, and proactively addressed.
Other Products of Sigmify GRC
Compliance & IT Governance
Assessments
Data Discovery & Mapping
Consent Management
Risk Management
Audit Management
Breach and Exceptions Management
