Strengthen the future of existing Vendor Management capabilities by bringing forward Risk Management mechanisms using Brooklyn Vendor Assurance, as well as other enhancing Vendor Management functions.
Best Practice Risk Management Capabilities
Compliant Risk Modelling
Configure your Risk Criteria and Level of Acceptance to suit business needs. Transparently categorise vendor risk, through editable labelling. Scale vendor risk through risk impact and likelihood customisation. Follow BrooklynVA's best practice risk remediation and control to get the most secure outcomes from the vendor.
Simple Risk Capture
Identify and capture outstanding risks across vendor reviews by the quick click of a button. Generate an automated risk log amongst our standardised Risk Register, populating filterable vendor risk status.
Audited Vendor Risk Logs
Track the most critical risks relating to your outsourced third-parties. Discover where your vendor risk sits against mitigation plans. Continuously follow up on risk using our Risk Management workflow, and raise concerns effectively with the vendor.
Risk Mitigation Planning and Tracking
Plan your Risk Response Plan through our key steps to successful Vendor Risk Management. Overlook the formation of residual risks, to determine further mitigation and action against the vendor. Fit your supplier policy to suit your risk mitigation measures, and continually improve secure outsourcing.
Taking Vendor Management Advantage a Step Further
Drive and Reward Innovation
Automate and accelerate the supply chain with BVA best practice. Scale and organise your vendors against the business's frameworks and methodologies. Digitise organisational awareness and policy, and ensure complete transparency between the business and the vendor.
Continuously Fit for Audit
Always be prepared for regulatory authorities and internal control groups with BrooklynVA's auditing capabilities, allowing the business to consistently comply to industry-recognised frameworks and standards.
Automated Action Tracking
Complete automation of your actions assigned across the organisation and supply chain. Ensure consistency, as well as policy and regulatory compliance. Generate an audit trail of your completed actions, to match vendor performance requirements.
Governance Processes and Roles
Automate and schedule your key governance processes across each vendor tier. Regulate against your vendors with priority and importance per segment, using automated vendor management advisories. Initiate automated and role-based notifications of overdue, pending and required tasks or actions.
Auditing and Logging
Retain a log of all your actions and events with the vendor. Uphold detailed insight on the obligations and risks associated to each vendor. Keep consistent audit trails of overall vendor activity, as well as your vendor's efforts via transparent scoring and reporting.