Vendor Risk Management Software
SLAs & Vendor Performance Management
Track Service Level Agreements and Perform Periodic Vendor Performance Reviews
In any relationship with a third-party vendor, contracting is just the beginning. After initiating the partnership, your primary concern shifts from what promises must be made to how well those promises have been kept. That’s where Service-Level Agreements (SLAs) and vendor performance management comes in.
Every vendor engagement is a work in progress. To manage that progress, you need an efficient vendor performance management process to track vendor SLAs, document KPIs, monitor activity, record observations, and review overall status at a glance.
The line of business closest to the vendor must track key questions such as:
- Have milestones been met?
- Are deliveries fulfilled adequately?
- Has quality matched expectations?
- Have costs been controlled in line with agreements?
- Is vendor compliance clear and consistent?
- Has anything changed to threaten the vendor’s business viability or stability?
Informed Vendor Performance Management
ProcessUnity Vendor Risk Management provides a common platform, accessible to all authorized parties, on which they compare vendor performance against established service level agreements (SLAs).
Through the platform you are able to:
- Document SLAs
- Invite authorized parties
- Set threshold terms and alerts
- Create trend reports
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