Third-Party Risk Management Solutions that Protect Your Business

Vendor Centric’s third-party risk management solutions and consulting services transform your ad hoc vendor risk management activities into a cohesive and transparent process. We assess and fortify your third-party risk mitigation strategy to lay the groundwork for long-term operational growth and resilience. 

We deliver expert guidance through any TPRM challenge your organization is facing: 

• Navigating complex vendor networks
• Streamlining unstructured vendor monitoring systems
• Enhancing risk visibility in vendor partnerships
• Tackling compliance and regulatory complexities
• Strengthening data security and privacy safeguards

Our specialized third-party vendor management services enhance vendor relations, mitigate associated risks and support operational efficiencies, safeguarding your organization’s assets and resources.

Our comprehensive vendor risk management services encompass every facet of third-party risk management operations from policies and procedures development and technology selection to integration resourcing and staff training. We pinpoint improvement opportunities and implement strategies that refine your TPRM operations for peak efficiency.

Our vendor risk assessment and managed services further enhance efficiency by lifting the load of TPRM operations off your team. By entrusting us with the complexities of third-party risk management, we free your team to concentrate on their highest-value business activities. This strategic delegation amplifies the efficacy of your entire TPRM framework to build a more well-balanced and high-performing vendor management operation.

No. While we do not directly sell TPRM software, our deep-rooted expertise in vendor risk assessments and management uniquely positions us to provide insightful and impartial advice on TPRM software. Backed by our longstanding partnerships with leading software providers, we curate vendors that best fit your organization’s specific needs and strategic goals for more secure supplier risk management. 

Yes. As your strategic partner, we are committed to providing vendor management software selection and implementation solutions that address all facets of your third-party risk management technology needs. Our initial step involves collaboratively crafting a personalized TPRM solution strategy, ensuring stakeholder alignment and clear documentation of your software requirements. We then guide you through the landscape of third-party risk management systems, providing expert insights and support throughout an extensive evaluation and selection process.  

Our support continues as you implement your chosen TPRM software, ensuring seamless adoption within your organization. Our project management approach is agile and dynamic, prioritizing efficiency and cohesion with your procedures and compliance requirements. Through this comprehensive support, we empower your organization to effectively manage vendor risks and enhance your third-party vendor management operation.

Absolutely. Vendor Centric stands at the forefront of vendor management consulting, dedicated to safeguarding businesses against a broad spectrum of third-party risks, including but not limited to geographical, financial and cyber threats. We also adeptly navigate operational complexities, compliance requisites and the increasingly vital environmental, social, and governance (ESG) standards. Our approach involves a detailed categorization of risks, enabling us to craft distinct and effective risk mitigation strategies for each area. The result is a comprehensive and robust TPRM framework, engineered to protect your organization from the multifaceted nature of risks within your supplier risk management landscape.

Yes. While our client base primarily resides in the US, their vendor engagements span the globe. Our approach is centered on equipping companies with the comprehensive infrastructure required to manage risks associated with international vendors. As a strategic partner, your team gains the resources and support necessary to effectively oversee and mitigate third-party risks across the international landscape, ensuring both compliance and operational efficiency.

We work with a variety of industries across diverse sectors, many of which are highly regulated. Leveraging our cross-sector expertise, we tailor our third-party risk management services to your industry’s specialized requirements. Some of the industries we work with include:

• Aerospace
• Banking
• Financial services
• Healthcare
• Insurance
• Nonprofits & NGOs
• Pharmaceuticals and life sciences
• Privately held, commercial businesses

Partnering with Vendor Centric means that you work with a firm who is committed to leading a collaboration that culminates in the standardization, modernization and optimization of your third-party risk management operations. We blend strategic advice with tactical, hands-on support, equipping your team with the necessary tools and knowledge for effective third-party risk assessment and mitigation to forge a more secure and resilient organization.

Our client-focused approach is designed to strategically optimize your third-party risk assessment and management operations through a structured and personalized, four-phased process that’s been tested and refined over many years.  

Operational Assessment: We begin by assessing your end-to-end third-party risk management operations to identify opportunities to improve policies, procedures, technology, resourcing and governance. Our assessment is aligned with the current best practices and industry-specific regulatory requirements.

Improvement Roadmap: Our expert consultants then work with you to prioritize the opportunities and create a detailed roadmap for implementing improvements and generating ‘quick wins’ along the way.

Implementation of Operational Improvements: With the improvement roadmap as the guide, our TPRM experts get in the weeds with you to support the implementation of your improvement recommendations. We’ll streamline and document your policies and procedures, define your resourcing strategy, clarify roles and responsibilities and support the integration of new technology. We’ll also create and deliver training materials to prepare your staff for a successful rollout of the improvements. 

Optimizing Ongoing Operations: Once your improvements have been operationalized, we provide ongoing support to help you optimize your third-party risk management solutions. We can address all aspects of continuous process improvement, including technology optimization, vendor visibility, compliance management and risk mitigation to foster long-term resilience and success for your organization.

We utilize an array of tools and methods to pinpoint improvement opportunities. Our methods involve agile project planning, streamlining governance structures, facilitating personalized workshops and integrating key documents, process maps and RACI charts for clarity and accountability.

Project management forms the backbone of our approach including the utilization of dashboard tools for oversight and holding regular progress meetings with your team. This ensures a collaborative process that deeply understands your business objectives, actively involves key stakeholders and delivers services that are meticulously aligned with the unique demands of your industry and organizational structure.

In partnership with your team, we develop a suite of Key Risk Indicators (KRIs) and effective reporting systems during the planning stage. Continuous collaboration is key, we actively incorporate your feedback to gauge the efficacy of our strategies and pinpoint areas for further enhancement, adapting to the evolving landscape of supplier risk mitigation. This dynamic feedback process, supported by consistent communication, enables real-time adaptation and fine-tuning to foster scalable growth.

Our vendor risk assessment and management consultants take a personalized and practical approach to seamlessly transform siloed vendor and supplier risk management activities into a unified, collaborative effort across people, processes and vendor management systems. Diverging from the generic approaches often seen in the industry, our team invests time to intimately understand your organization’s specific business objectives, risks, and challenges.

This enables us to develop tailored supplier risk mitigation strategies geared for real-world scenarios. Our agility ensures swift delivery of results, surpassing the pace of larger consulting firms while maintaining the flexibility to adjust to evolving market conditions. You’ll receive specialization, speed and big-firm expertise without the big-firm costs.

Starting your journey with Vendor Centric is straightforward. Our three-step onboarding process is designed adapt to your preferred contracting method. Schedule a consultation with one of our specialists to learn how our vendor risk assessment and management services can enhance your vendor management operations.