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Next GenVendor Risk, Performance and Vendor Relationships Management

Mitigate risks, optimize performance, and foster stronger vendor partnerships through a AI-infused modernn end-to-end vendor risk, performance and relationship management platform that works out of the box. 

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Holistic Vendor Risk, Performance and Relationship Management across the Portfolio

Enlighta Spice enables you to identify risk and build stronger, more resilient vendor partnerships with open communication, proactive engagement, and effective collaboration.

Streamlined Intake and Vendor Segmentation

  • Fast-track vendor onboarding with automated sanction, PEP checks and self-service Vendor Portal. Automatically trigger requests for vendor information and enable vendors to update their data and share documents.
  • Consolidate vendor information in centralized profiles enriched with external data.
  • Quickly segment suppliers by risk and materiality with built-in initial assessments and customizable scoring criteria.

Risk Controls and Due Diligence Questionnaires

  • Conduct comprehensive vendor risk assessments with customizable best-in-class DDQs (Due-Diligence Questionnaires).
  • Automate risk control tasks and evidence collection workflows.
  • Collaborate seamlessly with internal teams and vendors to request and review evidence.

Contract Management, Risks Identification and Mitigation

  • Manage contracts, amendments and approvals efficiently by customizing review and approval workflows.
  • Minimize contractual risks with pre-vetted contract clauses and automated extraction of key terms and clauses to compare  
  • Never miss an expiry or renewal with automated reminders.

Continuous Monitoring

  • Get real-time alerts for vendor adverse events, legal issues, and more.
  • Track performance against SLAs and KPIs with automated SLA Scorecards.
  • Issues are early warning indicators of problematic partner relationships. Manage, escalate and report on issues, root-cause, and resolution. 

Foster Healthy Vendor Relationships

  • Gather feedback and insights from all vendor-side stakeholders with customizable surveys and scorecards.
  • Assess vendor relationship health on multiple dimensions with auto-generated Vendor Scorecards that assess alignment, performance, risk, compliance, quality, capabilities, ESG and more.

Why Enlighta Spice for Vendor Relationship Management

Unified

Streamline onboarding, contracting, performance, compliance, and risk monitoring and management with one platform.

Adaptable

Tailor everything from assessments to workflows without code and integrate internal and external data feeds and systems with Enlighta Spice.

AI-Powered

Leverage advanced machine learning rules and NLP to automate contract identification and generation as well as clause extraction, analysis, and updates.

Secure

End-to-end encryption, standalone application deployments, and regular vulnerability assessments guarantee your data’s security.

Resilient

Automated backups, high availability, and uptime SLAs ensure consistent performance and uninterrupted reliability for you and your third-parties.

Scalable

Start small and scale to thousands of vendors, contracts, and users with our modular platform and flexible subscription plans.

See how Enlighta’s Third-Party Risk Management software can help you identify hidden risks and mitigate them 50% faster than traditional TPRM solutions.

Schedule a personalized Enlighta Spice demo today.

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