POLICIES & PROCEDURES
Ensure your organization has written policies and procedures when it comes to Third-Party Vendor Management Program, Risk Management Program, Roles & Responsibilities, Authority Levels.
VENDOR ON-BOARDING & CATEGORIZATION
Vendor Due-Diligence & Categorization provides enterprise users (outsourcing organization) the ability to perform preliminary due-diligence on their third parties and categorize them based on Criticality and Inherent Risk.
Categorization of Third Parties are done based on a streamlined set of questions to better understand the institution’s risk profile. It also helps the institution focus its efforts on monitoring the vendors with the highest risk profiles.
Due Diligence is the process of collecting information that provides management with the information needed to address qualitative and quantitative aspects of potential third parties to determine if a relationship would help achieve the institution's strategic and financial goals and mitigate identified risks.
CENTRALIZED DOCUMENT REPOSITORY
Ability to manage and track vendor related documents all in one place. Quickly locate vendor contracts, invoices and other key documents.
VMO TOOLS
Ability to manage and track vendor related documents all in one place. Quickly locate vendor contracts, invoices and other key documents.
Survey Management - A simple to use survey management tool which allows organizations to create survey templates for Customer Satisfaction Surveys or Employee Engagement Surveys
Performance Scorecard Management -
The platform provides outsourcing organizations with a robust performance management module. This module allows organizations to build performance scorecards from standard templates and assign to vendors:
- Define Service Levels or KPIs and develop custom Performance Scorecards.
- Customize different scorecard workflows
- Ability to develop multiple scorecards per service provider depending on the type of contracts.
- Allows third party vendors to report on Service Levels on a monthly basis.
- Allows Contract Owners or Business Owners to review third party vendor performances on a monthly basis and approve it.
Escalation Level Management -
Get a quick understanding of the vendor partner organization including their executive management and account management team structure.
Standard RFx Templates - A handy repository of all standard RFx templates.
REGULAR CADENCE
Vendor Management and IT/Business leaders will have the ability to schedule, track monthly, quarterly and annual business review meetings with their vendor partners. Enables organizations to track and manage all cadence meetings, meeting minutes and action items in one centralized view.
PERIODIC REVIEW & MONITORING
Depending on the criticality and inherent risk of your vendor partners, vendor management and IT/Business leaders will be able to auto-initiate a periodic review across key relationship dimensions and document the results / findings of the review.
- Vendor Risk Reviews
- Contract Reviews
- Financial Reviews
- Performance Reviews
ISSUES RESOLUTION & ESCALATION MANAGEMENT
Ability to centrally manage all vendor Issues, Disputes & Escalations. Have the ability to address any escalations raised by the lines of business serviced.
KEY PERSONNEL REVIEW
Know your key vendor personnel’s. Spot early trends on resource attrition or any frequent changes happening within your vendor partners account or delivery organization.
STANDARD TEMPLATES
Ensure consistency and compliance when it comes to contracts with your vendor partners. Provide your organizations standard templates that can easily be copied and edited by your vendor partners.
This will help in ensuring that any standard clauses needed for regulatory compliance or any contractual controls are not missed.
SECURE IN-BROWSER EDITING & COLLABORATION
A complete Contracts Authoring, Review, Approval and Execution workflow. Harness the power of document automation & rich-text editing, securely inside the application. Stop emailing back and forth contract documents for every redlined version. Also, if online document editing tools like Word Online or Google Docs exceed your customers’ risk tolerance, ENGAIZ’s Contract Management can come handy with its secure in-browser in-application editing capability. It also provides all standard clauses to ensure consistency across your vendor partners.
DIGITAL SIGNATURE
Integrated with eSignature features capable of workflow.
CONTRACT ANALYZER
Stay compliant in terms of keeping all your Contracts current and renew it well ahead. Automatically, manage compliance on deliverables, milestones, scope changes with your vendors.
For both Enterprise Customers and their Vendor Partners – Shorten cycle to review contracts (Service Agreements, Master Service Agreements, Statement of Work). Our contract analyzer highlights areas you need to pay attention.
PERFORMANCE SCORECARD
Manage KPI/SLA Library - Add, Edit, Delete
The platform provides enterprises to define their own KPI/SLA Library.
Each KPI/SLA are categorized
- as Leading or Lagging or Current Indicators
- as Qualitative or Quantitative indicators
Define Performance Scorecard
This module allows organizations to create two types of Scorecard Flows:
Vendor Only - This scorecard allows for only Vendors to update the SLA achievement and for Customers to review and approve
Collaborative - This scorecard allows both Vendors and Customers to enter the SLA achievement from each others perspective, collaboratively review the SLA report and agree on the final scores. While the intent is to adopt a collaborative relationship driven approach, the final approval resides with the customer.
Report Service Levels
The platform allows third-party vendors to report service levels achieved by selecting the appropriate performance scorecard
Review & Approve Scorecards
The assigned Approver (Vendor Relationship Manager or the contract owner) will be able to review and approve performance service level reports and be able to see details of individual SLAs.
CUSTOMER SATISFACTION
Voice of your IT and Business Customer is very important.
The platform provides outsourcing organizations with a robust customer satisfaction (CSAT) and executive satisfaction (ESAT) survey management module. This module allows organizations to create custom master survey templates which can be used to send quick surveys to gather feedback on one or more third parties and mandate improvement plans.
ENGAGEMENT HEALTH
See a single consolidated view of all your vendors project/service portfolio. Be able to track the project / services health and take proactive actions.
SPEND ANALYSIS
Perform detailed Spend Analysis on your strategic vendors. Understand the spend with vendors and figure out mechanisms to track and control costs.
INVOICE ANALYSIS
Manage and track vendor invoices.
RATE CARD ANALYSIS
Perform detailed rate card analysis against industry benchmarks.
RISK OVERSIGHT & MONITORING
Depending on the criticality and inherent risk of your vendor partners, vendor management and IT/Business leaders will be able to auto-initiate a periodic review across key relationship dimensions and document the results / findings of the review.
INNOVATION CHALLENGE
Experience the power of Enterprise Crowdsourcing by launching an innovation challenge. Any problem can be solved when diverse brains get together.
IDEATION LAB
Review all ideas, solutions, opportunities submitted by your vendor partners.