K2 Compliance eliminates the challenges associated with managing an organization’s vendor relationships.
Each vendor has their own unique record within K2 Compliance. These vendor records contain detailed information such as address, website, industry, specific persons of contact, and other demographics. The versatility of the application allows these data points to vary based on client preference. Agreements and other vendor specific documents are attached to each record with their own specific record data points such as expiration or review dates. This storage method allows organizations to track and link Incidents and other relevant activities associated with each of their vendors.
Using the Information Request feature, 3rd Party Vendor Assessments can be distributed and managed to each vendor. Organization defined thresholds can be applied to the assessments indicating whether a particular vendor relationship exhibits any potential risks that may lead to an evaluation of the relationship prior to any contract renewal.
With K2 Compliance, Vendor management becomes organized and intuitive.