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Supplier Information Security Management

Vendor Management & Risk Assessments

Supplier Risk Evaluations

Engaging with suppliers, reviewing their performance and mitigating any threats they may pose to your business.

Reduce the time it takes to evaluate a new or existing vendor by more than half by doing away with tedious, error-prone, spreadsheet-based manual risk evaluations. The best practices and practical advice for security teams, managers, and executives on vendor risk assessment.

Customised evaluations of your vendor connections

Customised evaluations of your vendor connections

The Cetbix Vendor/Supplier Management System

  • streamlines your company's vendor management process - from vendor assessment and acceptance to vendor notification and removal.
  • provides you with the information you need to monitor potential threats and take precautions, such as monitoring, assessing, tracking and mitigating supplier-related risks.
  • enables you to assess and evaluate supplier performance, close contracts and track order backlog.
  • supports e-commerce via an API that can connect to SAP and other non-ERP systems.
  • sending a reminder to the document owner.

Adapt risk assessments based on the level of risk that a vendor poses to your business. Utilise security ratings for preliminary evaluations or our collection of standardised security questionnaires for in-depth analysis. SOC-2 audit reports make for simple additions of security evidence.

One location to evaluate, address, or eliminate vendor risks

The Cetbix Vendor System generates reports to help you define and monitor your company's goals and supplier relationships. You have the ability to track data over time and generate reports, with threats automatically detected. The Cetbix Vendor Management System comprehensively describes your vendor management process while maintaining confidentiality and integrity. As a SaaS solution, Cetbix guarantees the availability of the services provided. Do you need a vendor management system? Procurement managers can use the Cetbix Vendor Management System to keep vendor data up to date and measure vendor performance on a regular basis.

Based on the evidence that is currently available, risks are automatically identified and categorised by severity for your evaluation. Using a simple assessment methodology, you can request the remediation of important vendor risks and waive non-critical risks for later evaluation.

Holistic analysis of vendor security posture

Capture any risk insights and red flags in the security posture of your third-party vendor in a report format. Risk assessments are saved as auditable documents, and can be exported as a PDF. Close the loop on your risk assessments by setting a reassessment date.

KPI, B2B-E-Commerce, Financial & Operating Performance

(Optional) The Cetbix Vendor Marketplace Platforms offer the finest user experience across all channels by combining robust functionality with user-friendliness and a completely responsive design. With our admin administration features, you can easily administer your marketplace, whether it be for lead generation or e-commerce sites. Our solutions give your vendors integrated tools to control their content and goods as well as keep track of their transactions. Additionally, end users have access to rapid comparisons and dynamic search filters.

  • Order Management
  • Return on Investment (ROI)
  • Revenue growth
  • Revenue per customer
  • Profit margin
  • Customer retention rate
  • Customer satisfaction
  • Compliance rate
  • Supplier lead time
  • Support ticket resolution time
  • Product/service defect rate
  • Order accuracy
  • Order capacity
  • License management
  • Competitiveness.
    ...and much more.

Other benefits & KPIs

  • Online ordering and pool ordering processes
  • Deadline monitoring
  • Approval procedure
  • Document management
  • Supplier account
  • Order/employment management
  • Time recording or import
  • Mapping of vendor to departments
  • E-signing of contract documents
  • Self-service portal
  • Paperless onboarding
  • Vendor screening
  • Supplier performance management
  • Remediation
  • Spend management
  • Reporting
  • Measurements
  • API integration
    ... and much more.

Supplier Performance Measurement

Maintaining a positive relationship with a supplier and ensuring that they continue to reach your standards both depend on measuring their performance.

But how do you gauge the success of suppliers? There are are numerous aspects to weigh and it can be challenging to know where to start. Everything you need to know about supplier performance management, including how to assess it and what factors to take into account, is covered here.

To identify areas where your suppliers need to improve, the Cetbix Vendor Management System creates a system for tracking development and setting goals and targets for suppliers.

Additionally, the Cetbix Vendor Management System can assist you in creating backup plans in case of disruptions, like the closure of a crucial provider. Vendor management is crucial for a variety of factors. Your company' ability to manage supplier relationships depends on it. Regular evaluation of supplier performance can also assist you in spotting potential supply chain risks early on, allowing you to handle them before they become serious issues. The Cetbix Vendor Management System makes sure that your goods and services adhere to the highest potential quality standards.

Effective Supplier Scorecard

Does your business monitor comparative performance measures to foster relationships with suppliers and increase supply chain effectiveness? The primary duties of procurement departments are to assess, locate, and keep track of the best suppliers based on standards that satisfy the demands of the company. The procurement staff must manage suppliers and keep positive supplier relationships. Companies can use the Cetbix Vendor Management System performance scorecards to assess and monitor how vendors are performing in relation to their contractual duties and how they stack up against the competition.

The procurement department can keep an updated list of preferred suppliers with the help of Cetbix Vendor Management System's features, which also encourage suppliers to improve in certain areas in order to be added to or remain on the preferred supplier list. When suppliers match their internal procedures with corporate objectives, business opportunities increase and relationships with them are strengthened.

Obtaining managerial support can be difficult. The strongest arguments show how enhancing supplier performance helps companies achieve their goals and success strategies by revealing hidden cost drivers, reducing risks, raising performance standards and productivity, and making sure that company values and supplier compliance are upheld.

Evaluation Factors

As previously stated, you can use a variety of KPIs from the Cetbix Vendor Management System to gauge how well your suppliers are performing. The company's goals determine how the key performance indicators (KPIs) are weighted. For instance, since some businesses base their image on using sustainable materials, sourcing quality is more significant than finding the best deal.

Scorecards are used to assess performance. In Cetbix, different scorecards related to the provider's performance are predefined, outlined and prioritised. You also have the option to define your own scorecards, as most organisations have overlapping criteria for measuring performance.