IHS Markit recently launched its Vendor Management Portal (VMP) — an exhaustive solution for vendor management workflow and vendor risk tiering. In bringing together VMP with its KY3P due diligence service, the company now offers companies an exhaustive system to centralize the management of third-party relationships, evaluate, and monitor third-party risk, and carry out vendor due diligence.
IHS Market’s Vendor Management Portal provides the following:
- Onboarding workflow: Standardized vendor onboarding request starts off the workflow to decide the requisite due diligence and approvals
- Calculation of inherent risk: The essential risk for the vendor service or product is worked out using the rules configured by the user, on the basis of due diligence data as well…
