Vendor Due Diligence

Vendor Due Diligence

Vendor Due Diligence & Ongoing Monitoring

Objective Pre-Contract Process and Post-Contract Cadence with
Vendor Due Diligence Software

Unfortunately, facts rarely speak for themselves during the vendor due diligence process. By itself, a set of accurate data and truthfully answered questions—sourced from requestors, independent reviewers, or your internal due diligence team—remains open to interpretation. Subjectivity can insert itself into what should be a standardized process, creating  inconsistencies that undermine the integrity of vendor due diligence.

Questions Lead to Precise Data Points

OSP and its partner system helps you create questions that produce  specific data points the can be meaningfully evaluated. For example, instead of asking for a credit score, it produces inquiries that determine whether the vendor’s credit score falls within an acceptable range.

Risk Evaluation Based on Company Policy

The criteria for evaluation—pass, fail, or request clarification—is based on  parameters consistent with company policy. Following the previous example, a submitted credit score would be automatically examined and assessed objectively against the company’s formal policy demands.

Vendor Due Diligence Software with Targeted Vendor Intelligence

Reduce your burden: OSP platform seamlessly integrates targeted vendor  intelligence into third-party risk management processes to accelerate  vendor due diligence reviews and perform continuous vendor monitoring.

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