Third-Party Risk Management

Vendor Onboarding
Best Practices

While all third-party vendors must be onboarded,
they do not all merit equal attention.

To contract a vendor is to initiate a relationship: when you don’t know who you’re really dealing with, you expose your enterprise to risks that can have enduring consequences. Too often, onboarding a new vendor includes disparate systems and databases, miscellaneous worksheets and inconsistent workflows. Company by company, the number and flow of these onboarding steps may vary, but one thing remains consistent: it’s always too many.

Vendor Onboarding Best Practices ebook

ProcessUnity's latest eBook, Best Practices for Simplifying Vendor Onboarding, shares practical guidance on how you can:

  • Establish consistency and streamline workflows in your onboarding process
  • Replace inconsistent manual onboarding processes with standardized automation
  • Apply business logic rules and scoring intelligence to automatically determine the set of questions
  • Document requests appropriate to each vendor’s level of inherent risk
  • Establish an audit trail that examiners respect and that can easily be shared among appropriate parties – with substantiating documentation
  • Get started now and evolve your policies and systems to become more sophisticated as your due diligence scoping maturity level grows

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