Engaging Your Third-parties in Your Vendor Risk Management Module
In order to ensure that your organization gets the most value out of the Vendor Risk Management module, it is crucial to have involvement from your third-party, or vendor contacts. We recommend sending an email out to all vendor contacts explaining the importance of their participation in completing questionnaire requests and following up with potential issues.
We've offered a template below that you can use as a starting point for your email to your vendor contacts. Be sure to review the following text prior to sending to ensure the content matches your unique initiatives and change any text in brackets to personalize the template.
Hello [Vendor Contact Name],
Having a compliance plan in place ensures that our organization runs smoothly and helps us stay focused on our organizational goals. One of our compliance initiatives includes completing a due diligence process with our vendors. This process allows us to confirm the safeguards our vendors have in place within their organization and assists us in maintaining our overall compliance goals.
First, we will create an account for you within our Vendor Risk Management portal. At this time, you will receive an email invitation to confirm your account. From there, you will receive an additional email notification with a request to complete our questionnaire. After the questionnaire has been submitted for our review, it's possible that we may follow up on your responses by requesting clarification and/or supporting documentation. We refer to these requests as "Issues". It's important that you review these issues and respond in a timely manner to finalize your questionnaire.
The portal is easy to navigate, but if you have any questions or concerns, please do not hesitate to reach out to [Company Contact Information]. Also, please see this Guide for Vendor Users for helpful tips and instructions.
We look forward to [beginning or continuing] our partnership with your organization and appreciate your cooperation with this process.