Vendor Risk Management Services
MODEVITY VENDOR RISK MANAGEMENT SERVICES
Why It Is Vital to Know Your Vendors & Partners
Industry Compliance experts have defined ‘Vendor Risk’, as any person or organization that is connected to a supply chain or is executing business on an organization’s behalf such as a supplier, distributor, consultant, agent and/or partner. Potential vendor threats can expose a company to Operational Risk, Financial Risk, Cyber Security and Reputational Risk.
The supply chain is the life blood of most companies. Dealing with a problematic vendor, such as a supplier in financial difficulty, a sweatshop in China, a manufacturer controlled by a Russian Oligarch, or any company associated with an individual on the US and Global Sanctions list can create a major source of reputation risk, compliance risk and financial exposure for your company.
Thorough Investigative Due Diligence can expose fraud, identify significant risk factors, and can also protect a company’s reputation.
*For those companies that have Vendor Risk Management Software currently implemented our analysts can support your compliance team to investigate those high-risk vendors with our extensive due diligence research reports.
Modevity helps You Manage Your Vendor Risk by Leveraging the Most Current and Accurate Data World-Wide.
We will verify vendor identity for accuracy, minimize the potential for fraud, and meet regulatory requirements. We will Identify any risk associated with the supplier you are examining, such as redundant SSNs, OFAC and PEP listings, criminal records, and businesses tied to the same FEIN, litigation, etc.
Modevity has implemented Thomson Reuters CLEAR a cutting-edge investigative platform and other database technologies and open source tools that enables us to quickly obtain a complete picture and evaluate risk of your vendors, partners, and investors. With CLEAR’s third-party risk management software, the Modevity team can support our clients to mitigate their corporate and reputational risk through billions of data points of public and private data with a scalable automated process and powerful vendor reports.
It is a comprehensive outsource solution for Vendor Risk Managed Services.
Our due diligence research expertise supports organizations by mitigating varied company and regulatory risks and utilizes powerful database technology, AI and open source tools to provide real-time reports for the identification of risks when conducting business with vendors across varied departments or operations. We provide our clients with vendor background screening, risk rating, surveys, on-going monitoring, and reporting services.
Our Team can configure your risk analysis profile to fit the unique requirements of your organization. We quickly review an array of risk indicators and provide a score and report that immediately identifies if the supplier carries too much risk.
Our reports show key information that indicate level of risk associated with a person or business. We save your team valuable time by eliminating the need to plow through vast amounts of data by getting a high-level view of risks associated to your vendors and partners.
Our reports provide an additional layer of protection against identity fraud and allow your organization to know when further enhanced due diligence investigation research is needed.
- Organizations No Longer Need to Integrate Vendor Risk Management Software and Provide System Support Staff
Fully Outsourced, End-To-End Vendor Risk Management Model
Global Coverage for Vendor Due Diligence Risk Reporting
We Streamline Processes and Reduce Costs while Improving Efficiency
You can now Strategically Shift Cumbersome Vendor Risk Assessment Tasks to Modevity and Optimize Your Team Focus on other Strategic and Departmental Needs
Powerful, Clear and Accurate Vendor Risk Rating, Reporting and Assessments
Modevity Analysts Become a Seamless Extension to Your Team Without Employee Overhead, Benefits and Costs
Cost Effective Vendor Due Diligence, Risk Rating & Reporting Services