Services

Vendor Management as a Service

Engaging with vendors can have many benefits, such as providing solutions that your organization may not have otherwise, increasing efficiency, speeding up service delivery, and cost control. However, it also comes with risks. As your organization grows and incorporates more vendor relationships, the need for a strong vendor management program also grows.

What are the benefits?

Get the Help You Need

Customized Assistance

Just as not all vendors are equal, not all organizations need the same level of help with vendor management. Whether it’s individual vendor reviews or more comprehensive, ongoing support, our team of experts will work with you to ensure you get exactly what you need.

Cyber-Focused Approach

Working with multiple vendors can increase the risk of a data breach as your organization’s information gets spread out. Our VMaaS offering tackles this issue by approaching vendor management from a cybersecurity perspective. We help you assess the risks associated with each vendor, enabling you to make informed decisions and minimize potential threats.

Rest Easier

Vendor management is important, but it’s certainly not easy. Delegate some (or most – depending on what you need!) of the most tedious work, while also getting the expertise you need to ensure you're working with the right vendors and keeping information safe.

Features

Vendor Management as a Service

Partner with SBS to develop a tailored Vendor Management as a Service engagement to ensure your organization and customers are protected from vendor risks. Your consultant will assist with tasks such as:

Standard Tasks

Create and manage an annual vendor management work plan.

Complete scheduled vendor reviews, which include due diligence and contract review.

Manage a Watch List to track problematic vendor risk findings, providing valuable insight into making decisions about continuing relationships with vendors on the Watch List.

Host regular meetings to provide comprehensive updates on ongoing activities, work plan progress, Watch List items, and challenges encountered during the vendor management process.

Optional Tasks

Vendor Management Oversight

Vendor Management Consulting

Vendor Management Mentoring

Risk Rating

Policy Creation

Policy Maintenance

Due Diligence Documentation Gathering

Financial Trend Reports

Annual Vendor Management Report

IT Committee Meeting Attendance

Audit/Exam Vendor Management Preparation

New Vendor Selection

Simplify vendor management with

TRAC Vendor Management Module

TRAC is backed by a team of cybersecurity experts, consultants, and in-house developers who work together to make it your all-inclusive solution for security decisions, document organization, meeting compliance goals, and creating board-ready reports.

No one likes doing vendor management, but it’s critically important. Use TRAC to build the rules of your program, go through a selection process to make sure you are picking the right partner, and easily perform ongoing monitoring of your existing third parties.

Cyber Showcase Webinar

A Cure For Your Vendor Management Headaches

Do you wake up at night worrying about vendor management? Does the idea of reviewing another SOC report leave you breaking out in hives? Does attempting to collect documentation result in involuntary screams?

Learn the critical components of a good vendor management program, what vendor-management-as-a-service looks like, and the questions you should consider in determining if the solution is a good fit for you and your institution!