Streamline third-party onboarding to uncover risks and get into business faster.
When choosing to engage with third parties to execute critical business needs, it’s important to make your first step properly screening them for risks they may present.
Establishing the appropriate steps to quickly onboard third parties so you can begin doing business faster – while collecting the necessary information to protect your organization – should be at the forefront of any third-party risk program.
With the NAVEX One GRCIS, third-party screening and monitoring solution, onboarding new third parties can be simple, consistent and easily managed in one location. This offers a familiar approach for administrators and an easy process for third parties.
Vendor receives request for business information
Your prospective third party answers and provides documentation as required
Submits completed assessment for review
Sends documents or answers follow-up questions
Notified of approval of completed assessment
Receives access to relevant policies and hotline
When assigned onboarding assessments are completed, new third parties move to the review and approval stage. Here, their data is run against risk attributes you’ve already identified, scored and weighted. Based on the results, third parties are sent through the appropriate approval workflows.
From a custom form or template
Assessment determined by third-party type
Monitor answers and request clarification
From assessment, third party moves to initial screening
Approved vendor is screened and set up for ongoing monitoring
Extend access to hotline, relevant policies and trainings to third parties
