Modernizing your vendor management process can help you save time, cut costs, evaluate vendors more easily, maintain stronger connections, improve compliance, reduce risk, and enhance visibility.

Developing and implementing an effective risk management plan is essential to mitigating threats to your business. This comprehensive guide explains its importance, outlines techniques for identifying and prioritizing threats, and defines key concepts and checkpoints within this five-step process.

Centralizing your in-house compliance process and documentation can help you save time, conserve space, enhance organization, secure critical information, reduce data loss from human error, improve audit efficiency, increase compliance, enhance visibility, and appear more professional.

Vendor screening can help reduce your liability when taking on third-party subcontractors. Depending on your industry, OFAC debarment screening, EHS screening, financial screening, and legal screening may be beneficial.

Strong compliance management techniques can save your staff time by simplifying inviting and connecting with vendors, streamlining onboarding, centralizing document collection, detecting compliance gaps, automating follow-ups, integrating other tools, and facilitating real-time compliance checks.

Contractual risk transfer is the ability to move a risk/loss from one party to another through the language written in a contract.

Full-service certificate of insurance (COI) tracking pairs software with human support, while self-service options offer software-only monitoring.

A certificate of insurance (COI) is a document that serves as proof of business insurance. It is a snapshot of an insurance policy, containing all the most important details, and it helps protect against third-party risk.

On-site insurance covers incidents at the jobsite, while off-site coverage extends to project-related incidents occurring at other locations.