Assess, identify and remediate third-party risks
Third parties are extensions of an organization and their actions can have a direct impact on compliance efforts and brand reputation. Because of that, regulations from conflict minerals to HIPAA are increasingly expanding to include an organization’s vendors and business associates. This requires companies to survey, assess, and follow-up with dozens, hundreds or even thousands of third parties, and take action against those not in compliance.
Vendor Manager, part of the Keylight GRC platform, simplifies the process of evaluating vendors, contractors, suppliers and service providers for risk and compliance to your organization.
Integrate vendor management into daily processes
Keylight integrates the full vendor lifecycle into daily processes that include information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows. This holistic approach, coupled with Keylight’s patented Dynamic Content Framework and advanced reporting and analytics capabilities, supports a streamlined, riskbased and proactive program for vendor risk management.
Automate vendor management for significant savings
Keylight saved one LockPath client $3.5 million in annual costs related to conflict minerals reporting. It saved another customer nearly $375,000 a year by fully automating the process of creating, issuing, scoring and following up on vendor assessments.
Improve your audit readiness
Create policies directly from regulations, and store supplier data within Keylight, allowing internal and external auditors to see the complete lifecycle of supply chain due diligence.
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