Vendor Management Services

Developing your institution's vendor management program is an immense undertaking. The many complicated tasks associated with collecting, evaluating, and maintaining third party information can quickly become overwhelming.

Boost Consulting can streamline the process by helping you determine which vendors need the most attention, evaluating which services should be associated with those vendors, and collecting and reviewing your vendors' information security documentation.

Our consultants know and understand the ever-changing regulatory landscape affecting your business, and have the expertise and experience to help you maintain your vendor management program in the best way possible.

Boost VM—Vendor Management Services

We will assist with your vendor management program by importing vendors and services, including facilitating determination of vendor significance, into a framework that streamlines the process of collecting, reviewing, and documenting third-party vendor information.

Vendor Management Program Development

Your Boost consultant will provide a comprehensive review, coaching, and assistance in implementing a vendor management program for your institution. The full development project will include:

• Analyzing the existing program and practices and determining strategic goals for improvement
• Importing vendors and services into Tandem Vendor Management
• Reviewing and customizing vendor criticality questions and risk categories
• Refining criticality rating definitions and clarifying implications
• Identifying due diligence documentation needed for each vendor service
• Assisting with vendor due diligence documentation collection
• Customizing review templates, workflows, and documentation strategies as needed
• Reviewing and refining all elements of the program as implemented in Tandem
• Providing summary documentation and vendor risk assessments as needed

Vendor Management Importing

Your Boost consultant will import all of your vendors and services into Tandem Vendor Management, and will assist with associating services with vendors and determining needed document types and their renewal dates. Additionally, your Boost consultant will provide assistance with:

• Determining critical and non-critical vendors
• Determining which vendor documentation is required based on significance question answers
• Delegating responsibility to appropriate staff
• Setting email reminders
• Importing new vendors, documents, and contracts
• Creating appropriate review templates

Document Analysis

Your Boost consultant will analyze documents as part of the compliance process for vendor management. This service includes:

• Reviewing SOC reports and other information-security-specific documentation
• Periodic vendor monitoring review

Additional details:

• Vendor management consulting is normally conducted via conference calls or other telephone-based meeting services. However, on-site consulting is available.
• Boost consultants can provide training regarding vendor management in general, and use of the Tandem Vendor Management product in particular.
• Extensive reporting is available, including summary reports of your Vendor Management program as well as individual vendor oversight reports.
• Boost consultants can integrate portions of your vendor management program with Boost Risk Assessment Services.

"You've been wonderful in assisting us to get started, and I appreciate how responsive you've been on everything I've requested of you."

Boost + Tandem

This engagement requires a subscription to Tandem Vendor Management.

Tandem software provides an easy-to-use tool for vendor management. Benefits include:

• All your vendors in one place
• Email reminders
• Conduct and document regular reviews
• Responsibility delegation
• Vendor documentation requests through Tandem

As a part of Boost Consulting, we will provide training and assistance with using the software.

The Tandem Vendor Management product interfaces with the Tandem Business Continuity Planning product. By purchasing and using both products, vendor contact information can be directly populated into Tandem BCP. Ask your account representative about business continuity planning services.

Ready to hand off vendor management?

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