THE
ART AND SCIENCE
OF
VENDOR ENGAGEMENT

THE
ART AND SCIENCE
OF
VENDOR ENGAGEMENT

THIRD-PARTY GOVERNANCE

The platform comprises of the

  • Strategic Engagement modules to meet both the requirements of Enterprise Customers (Vendor Management) and Vendor Partners (Partner Portal)

  • Ecosystem Collaboration – The platform provides for vendor managers to have a common collaboration and messaging portal / app with their vendors. Vendor Partners will have the ability to manage their customer engagement through the Partner Portal.

  • Reporting & Dashboard Central All governance reports and interactive dashboards

  • Core AI Engine that interprets the data and sends alert / notifications to manage Vendor Risks and Compliance.

A WIN-WIN Platform for Vendor Managers and Vendor Partners

Vendor Managers / IT Managers

Partner Portal

VENDOR MANAGAMENT OFFICE
VM OFFICE
CONTRACTS
Performance
FINANCIAL
RISK
INNOVATION

VM OFFICE

VENDOR MANAGAMENT OFFICE

CONTRACTS

CONTRACTS MANAGEMENT

PERFORMANCE

PERFORMANCE MANAGEMENT

FINANCIAL

FINANCIAL MANAGEMENT

RISK

RISK MANAGEMENT

INNOVATION

DRIVE INNOVATION

Strategic Vendor Engagement FRAMEWORK™

CUSTOMERS | EMPLOYEES | PARTNERS | ANALYSTS | COMPETITORS

GOVERNANCE

REPORTING & DASHBOARD CENTRAL

AI-DRIVEN SMART ALERTS & NOTIFICATIONS

VM OFFICE
Enterprise Customers will have the ability to on-board vendors. Manage and track all Vendor Management Office (VMO) activities.
RISKS
Manage and Mitigate Risks both ways. Perform Risk Assessment, Profiling, Market News and proactively mitigate Vendor Risks. Vendor Partners will have the ability to manage Account Risks.
CONTRACTS
For both Enterprise Customers and their Vendor Partners – Shorten cycle to review contracts (Service Agreements, Statement of Work). Our AI-Engine redlines clauses for your attention and learns to auto-accept standard clauses.

Integrated with eSignature features capable of workflow. Track contract compliance and delivery milestones.
FINANCIALS
Perform detailed Spend Analysis on your strategic vendors. Understand the spend with vendors, figure out mechanisms to control costs, track and manage invoices. Vendors can track and manage their Revenue Projections versus Actuals. Track Aging Invoices and Collections.
PROPOSALS
Create RFPs/RFIs/RFQs online and invite vendors. Compare and rate vendor responses. Vendor Partners will have the capability to internally collaborate and build a response for the RFP.
PERFORMANCE
Manage and monitor vendor / account performance through a Balanced Scorecard. Auto-compute achievement versus target. OKRs (Objective Key Results) for Vendor Management and Account Management leaders.
SERVICE EXCELLENCE
Both Enterprise Customers and their Vendor Partners will have the ability to track and manage all service engagements across different lines of business.
  • OVERVIEW
  • FEATURES
  • BENEFITS
  • See IT. Believe IT.

ENGAIZ’s Third-Party Governance and Relationship Management module helps to strengthen Third-Party Relationships by adopting a robust Engagement Framework. Building a trusted relationship with strategic vendor partners helps to spot mis-alignments early on and fix it. A strategic vendor partner is one that brings in true value to the overall relationship and helps your organization meet its business objectives.

  • VM OFFICE
  • CONTRACTS
  • PERFORMANCE
  • FINANCIAL
  • INNOVATION

ENGAIZ’s Third-Party Governance and Relationship Management module helps to strengthen Third-Party Relationships by adopting a robust Engagement Framework. Building a trusted relationship with strategic vendor partners helps to spot mis-alignments early on and fix it. A strategic vendor partner is one that brings in true value to the overall relationship and helps your organization meet its business objectives.

The vendor management office (VMO) is a business unit within many enterprises that is responsible for evaluating suppliers of goods and services, and overseeing regular interaction and long-term relationships with third parties. 

Vendor management requires inputs from finance, legal, procurement, IT and other business units. The practice can help to lower costs, reduce duplication of tools and services, and strengthen relationships with strategic vendors.

The VMO module provides the tools needed to manage and monitor third party relationships.

Escalation Level Management -  An easy-to-use drag-drop tool to manage escalation chains of both the outsourcing organization and the service provider organization. The charts are automatically constructed based on the reporting relationship set within the ‘Vendor Relationship Managers’ and ‘Vendor Account Managers’ page.

Vendor Relationship Managers – Provides a directory of all personnel within the outsourcing organization who will have any relationship management responsibility with vendors / service providers. This can be within the Vendor Management / Procurement department or IT or Business or Operations.  

Governance Calendar – A calendar tool that provides a month-week-day view of all your governance meetings with different service providers all in a centralized location.

Business Review Meetings – A tool to centrally schedule, track and manage agenda items, actions, meeting minutes of your weekly (operational), monthly (tactical) or quarterly (strategic) governance meetings with your service providers.

Issue Resolution & Escalation Management - Issues and Escalation management function to help organizations track and manage different types of issues and get items escalated to management, if required.

VMO ToolsCentralized Document Repository, Performance Scorecard Management and Survey Management tools

Periodic Reviews - Key vendor personnel and annual reviews.

The Contracts Management module provides enterprises and their third parties with a secure way to draft, review, approve and execute contracts. A key feature provided is the ability to analyze contracts and highlight contractual control risks.

- Standard Contract templates - helps maintain consistency and ensure standard clauses across the third party ecosystem

- Secure in-browser mode collaborative contract authoring, review and execution - stop emailing red-lined version back and forth

- Contracts processor and analyzer - instantly check for contractual control gaps / risks.  

The module provides the Contracts Risk of various third parties.

Performance Management is a best practice used to track, analyze, and manage the performance of a third-party. This helps to control costs, mitigate risks, and drive continuous improvement throughout the contract life cycle.

Performance Management ensures third parties receive informal feedback and formal evaluations on their performance at regular intervals. Performance Management module provides the following three functions to overall monitor and manage performance.

- Performance Scorecard - Service Level Reporting & Management

- Customer Satisfaction Surveys – Feedbacks

- Engagement Health - Projects and/or Services Performance

The module provides the Performance Risk of various third parties.

The Financial Management module provides outsourcing organization with the ability to review and analyze spend data, invoice data, rate card or pricing data against industry benchmarks. This helps organizations control cost and increase efficiency with third party relationships.

The Financial Management module helps outsourcing organizations to perform:

- Spend Analysis

- Invoice Analysis

- Rate Card / Price Benchmark Analysis

The Innovation Hub is an enterprise ideas crowd sourcing module that provides outsourcing organization with the ability to launch innovation challenge. It helps enterprises to drive innovation leveraging the third party ecosystem.  

The Innovation Hub module helps outsourcing organizations to perform:

- Launch a Challenge

- Evaluate Ideas or Solutions

- Implement

  • VENDOR MANAGEMENT OFFICE
  • CONTRACTS MANAGEMENT
  • PERFORMANCE MANAGEMENT
  • FINANCIAL MANAGEMENT
  • RISK OVERSIGHT
  • INNOVATION

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.

ENGAIZ helps strengthen Vendor Relationship, identify opportunities for Cost Control, drive Service Excellence and Mitigate Vendor Risks.

Faster Time to Maturity

Our platform will help you accelerate the third-party governance and risk management program.

If your organization has no standard framework and best practice, our out-of-box fully customizable solution can help you get started quickly and propel you towards higher levels of maturity.

Stay Compliant

Show you are compliant to your internal and external auditors, senior management and the board.

Increase Efficiency; Cut Cost

Save resource efforts and time.

Thanks to the platforms digital and cognitive capabilities. Your organization will reduce the amount of operational challenges running a vendor management program.

Cut silos

Manage and Govern all your third-parties centrally following a standard process

Drive Excellence & Innovation

Move from a focus on ‘Cost Savings’ to a focus on ‘Risk Sharing’ partnerships that fosters a culture of Innovation.

We are glad to schedule an exclusive demo before you are able to experience a no-obligation free trial subscription to ENGAIZ

Platform Overview – A Sneak Preview

ENGAIZ’s Strategic Vendor Engagement can help your organization unlock value from your third-parties.

Coming Soon.

Third-Party Governance – The hits & misses

Why governance is so critical in ensuring a successful relationship with third-parties.

Coming Soon.

Balanced Scorecard ‘driven’ Performance

How Key Performance Indicators (KPI’s) can be bundled to create a Balanced Scorecard.

Coming Soon.

Driving Innovation – Why

Why your organization should ‘move the dial’ when it comes to engaging third-parties to drive your organizational innovation goals.

Coming Soon.

ENGAIZ’s Third-Party Governance and Relationship Management module helps to strengthen Third-Party Relationships by adopting a robust Engagement Framework. Building a trusted relationship with strategic vendor partners helps to spot mis-alignments early on and fix it. A strategic vendor partner is one that brings in true value to the overall relationship and helps your organization meet its business objectives.

ENGAIZ’s Third-Party Governance and Relationship Management module helps to strengthen Third-Party Relationships by adopting a robust Engagement Framework. Building a trusted relationship with strategic vendor partners helps to spot mis-alignments early on and fix it. A strategic vendor partner is one that brings in true value to the overall relationship and helps your organization meet its business objectives.

 

The vendor management office (VMO) is a business unit within many enterprises that is responsible for evaluating suppliers of goods and services, and overseeing regular interaction and long-term relationships with third parties. 

Vendor management requires inputs from finance, legal, procurement, IT and other business units. The practice can help to lower costs, reduce duplication of tools and services, and strengthen relationships with strategic vendors.

alignleft

The VMO module provides the tools needed to manage and monitor third party relationships.

Escalation Level Management -  An easy-to-use drag-drop tool to manage escalation chains of both the outsourcing organization and the service provider organization. The charts are automatically constructed based on the reporting relationship set within the ‘Vendor Relationship Managers’ and ‘Vendor Account Managers’ page.

Vendor Relationship Managers – Provides a directory of all personnel within the outsourcing organization who will have any relationship management responsibility with vendors / service providers. This can be within the Vendor Management / Procurement department or IT or Business or Operations.  

Governance Calendar – A calendar tool that provides a month-week-day view of all your governance meetings with different service providers all in a centralized location.

Business Review Meetings – A tool to centrally schedule, track and manage agenda items, actions, meeting minutes of your weekly (operational), monthly (tactical) or quarterly (strategic) governance meetings with your service providers.

Issue Resolution & Escalation Management - Issues and Escalation management function to help organizations track and manage different types of issues and get items escalated to management, if required.

 

VMO ToolsCentralized Document Repository, Performance Scorecard Management and Survey Management tools

Periodic Reviews - Key vendor personnel and annual reviews.

The Contracts Management module provides enterprises and their third parties with a secure way to draft, review, approve and execute contracts. A key feature provided is the ability to analyze contracts and highlight contractual control risks.

- Standard Contract templates - helps maintain consistency and ensure standard clauses across the third party ecosystem

- Secure in-browser mode collaborative contract authoring, review and execution - stop emailing red-lined version back and forth

- Contracts processor and analyzer - instantly check for contractual control gaps / risks.  

The module provides the Contracts Risk of various third parties.

Performance Management is a best practice used to track, analyze, and manage the performance of a third-party. This helps to control costs, mitigate risks, and drive continuous improvement throughout the contract life cycle.

 

Performance Management ensures third parties receive informal feedback and formal evaluations on their performance at regular intervals. Performance Management module provides the following three functions to overall monitor and manage performance.

- Performance Scorecard - Service Level Reporting & Management

- Customer Satisfaction Surveys – Feedbacks

- Engagement Health - Projects and/or Services Performance

The module provides the Performance Risk of various third parties.

The Financial Management module provides outsourcing organization with the ability to review and analyze spend data, invoice data, rate card or pricing data against industry benchmarks. This helps organizations control cost and increase efficiency with third party relationships.

 

The Financial Management module helps outsourcing organizations to perform:

- Spend Analysis

- Invoice Analysis

- Rate Card / Price Benchmark Analysis

The Innovation Hub is an enterprise ideas crowd sourcing module that provides outsourcing organization with the ability to launch innovation challenge. It helps enterprises to drive innovation leveraging the third party ecosystem.  

The Innovation Hub module helps outsourcing organizations to perform:

- Launch a Challenge

- Evaluate Ideas or Solutions

- Implement

ENGAIZ’s Third-Party Governance and Relationship Management module helps to strengthen Third-Party Relationships by adopting a robust Engagement Framework. Building a trusted relationship with strategic vendor partners helps to spot mis-alignments early on and fix it. A strategic vendor partner is one that brings in true value to the overall relationship and helps your organization meet its business objectives.



The vendor management office (VMO) is a business unit within many enterprises that is responsible for evaluating suppliers of goods and services, and overseeing regular interaction and long-term relationships with third parties. 



Vendor management requires inputs from finance, legal, procurement, IT and other business units. The practice can help to lower costs, reduce duplication of tools and services, and strengthen relationships with strategic vendors.



The VMO module provides the tools needed to manage and monitor third party relationships.



Escalation Level Management -  An easy-to-use drag-drop tool to manage escalation chains of both the outsourcing organization and the service provider organization. The charts are automatically constructed based on the reporting relationship set within the ‘Vendor Relationship Managers’ and ‘Vendor Account Managers’ page.

Vendor Relationship Managers – Provides a directory of all personnel within the outsourcing organization who will have any relationship management responsibility with vendors / service providers. This can be within the Vendor Management / Procurement department or IT or Business or Operations.  

Governance Calendar – A calendar tool that provides a month-week-day view of all your governance meetings with different service providers all in a centralized location.

Business Review Meetings – A tool to centrally schedule, track and manage agenda items, actions, meeting minutes of your weekly (operational), monthly (tactical) or quarterly (strategic) governance meetings with your service providers.

Issue Resolution & Escalation Management - Issues and Escalation management function to help organizations track and manage different types of issues and get items escalated to management, if required.

VMO ToolsCentralized Document Repository, Performance Scorecard Management and Survey Management tools



Periodic Reviews - Key vendor personnel and annual reviews.

The Contracts Management module provides enterprises and their third parties with a secure way to draft, review, approve and execute contracts. A key feature provided is the ability to analyze contracts and highlight contractual control risks.



- Standard Contract templates - helps maintain consistency and ensure standard clauses across the third party ecosystem

- Secure in-browser mode collaborative contract authoring, review and execution - stop emailing red-lined version back and forth

- Contracts processor and analyzer - instantly check for contractual control gaps / risks.  

The module provides the Contracts Risk of various third parties.

Performance Management is a best practice used to track, analyze, and manage the performance of a third-party. This helps to control costs, mitigate risks, and drive continuous improvement throughout the contract life cycle.



Performance Management ensures third parties receive informal feedback and formal evaluations on their performance at regular intervals. Performance Management module provides the following three functions to overall monitor and manage performance.

- Performance Scorecard - Service Level Reporting & Management

- Customer Satisfaction Surveys – Feedbacks

- Engagement Health - Projects and/or Services Performance

The module provides the Performance Risk of various third parties.

The Financial Management module provides outsourcing organization with the ability to review and analyze spend data, invoice data, rate card or pricing data against industry benchmarks. This helps organizations control cost and increase efficiency with third party relationships.





The Financial Management module helps outsourcing organizations to perform:

- Spend Analysis

- Invoice Analysis - Rate Card / Price Benchmark Analysis

The Innovation Hub is an enterprise ideas crowd sourcing module that provides outsourcing organization with the ability to launch innovation challenge. It helps enterprises to drive innovation leveraging the third party ecosystem.  





The Innovation Hub module helps outsourcing organizations to perform:

- Launch a Challenge

- Evaluate Ideas or Solutions

- Implement

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.

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.

ENGAIZ helps strengthen Vendor Relationship, identify opportunities for Cost Control, drive Service Excellence and Mitigate Vendor Risks.

Faster Time to Maturity

Our platform will help you accelerate the third-party governance and risk management program.

If your organization has no standard framework and best practice, our out-of-box fully customizable solution can help you get started quickly and propel you towards higher levels of maturity.

Stay Compliant

Show you are compliant to your internal and external auditors, senior management and the board.

Increase Efficiency; Cut Cost

Save resource efforts and time.

Thanks to the platforms digital and cognitive capabilities. Your organization will reduce the amount of operational challenges running a vendor management program.

Cut silos

Manage and Govern all your third-parties centrally following a standard process

Drive Excellence & Innovation

Move from a focus on ‘Cost Savings’ to a focus on ‘Risk Sharing’ partnerships that fosters a culture of Innovation.

We are glad to schedule an exclusive demo before you are able to experience a no-obligation free trial subscription to ENGAIZ

Platform Overview – A Sneak Preview

ENGAIZ’s Strategic Vendor Engagement can help your organization unlock value from your third-parties.

Coming Soon.

Third-Party Governance – The hits & misses

Why governance is so critical in ensuring a successful relationship with third-parties.

Coming Soon.

Balanced Scorecard ‘driven’ Performance

How Key Performance Indicators (KPI’s) can be bundled to create a Balanced Scorecard.

Coming Soon.

Driving Innovation – Why

Why your organization should ‘move the dial’ when it comes to engaging third-parties to drive your organizational innovation goals.

Coming Soon.