myVendorView360 (myVV360) provides you with the tools you need to properly risk assess and prioritize your vendor network. Whether your vendor network is comprised of independent contractors, a few vendors, or if you have hundreds of vendors performing multiple functions, myVV360 can help you determine the necessary oversight you need to be providing your vendor network.
You do not have to treat each vendor the same, through an appropriate risk assessment process you can spend your resources in the areas that need the most attention.
How myVendorView360 Helps You Assess Risk
Our system supports multiple ways of determining risk. Through our survey functionality you can systematically determine risk based on a series of questions utilizing your scoring or risk level definitions.
Whether you use a numerical scoring method, multiple risk levels, myVV360 will accommodate your approach. You can manually assign risk values based on your criteria. Our system conforms to your methodology versus you conforming to ours.
By setting tasks as recurring, myVV360 will automatically send out your risk assessment based on your time table. In addition, the system will follow up with your vendor network when task due dates are approaching or past due. Past due items will be reflected in the vendor’s status alerting you to cease activity with that vendor if you desire. Through the automated functionality, you can spend your time working on strategic matters versus administrative tasks.
One of the key requirements of a sound vendor management program is the ability to demonstrate to regulators or other interested parties, your risk assessment and on-going oversight.
Through myVV360 all of your diligence is tracked in the system and can easily be reported. Through our reporting mechanisms you can provide electronic or printed output demonstrating your hard work. You no longer have to compile spreadsheets coupled with emails to demonstrate your efforts.