Description
The State of Tennessee is seeking information on vendor risk management software platforms that can support the full lifecycle of third-party risk management. The platform should be able to handle vendor onboarding and due diligence, risk assessment and scoring, continuous monitoring, contract and SLA management, workflow automation, regulatory compliance, and reporting and dashboards. The State is looking for a solution that can provide a centralized repository for vendor contracts and SLAs, support tracking of SLA compliance, and link risk assessments to contractual obligations. The solution should also be able to provide customizable dashboards for different user roles and support exportable reports.
Some key features of the platform include:
• Support for automated onboarding workflows and customizable due diligence questionnaires
• Configurable risk assessment templates and multi-dimensional risk scoring
• Continuous monitoring of vendor risk posture and generation of alerts for changes in vendor risk status
• Centralized repository for vendor contracts and SLAs
• Support for tracking of SLA compliance and flagging of violations
• Customizable workflows for approvals, reassessments, and remediation
• Regulatory compliance and reporting tools
• Integration capabilities with APIs for data exchange and automation
• Support for single sign-on and role-based access control
• Secure offboarding workflows and archiving of vendor risk history and documentation