Extended Enterprise Management

Stay ahead of risk. Know the characteristics of every relationship.

The sources of risk go well beyond the financial strength of your suppliers.

That is why Hiperos supports a risk management approach that is not limited in its scope.

  • Identify risk across all third party providers through easy-to-develop assessments
  • Address multiple risk categories through flexible calculation models
  • Drive efficient review processes—pre- and post contract award with streamlined workflow
  • Automate mitigation of risk through a robust rules engine
  • Augment assessments with tailored integration with data service providers (e.g. Dun & Bradstreet or LexisNexis)

Typically, risk management frameworks cover a number of areas. For example:

  • Financial stability (e.g. z-score)
  • Operations (e.g. data privacy and background checks)
  • Information Technology (e.g. information security)
  • Geo-political (e.g. location where product or service is provisioned)
  • Spend concentration
  • Corporate responsibility (e.g. diversity, health and safety)
  • Watchlists (e.g. OFAC)

This means you must have a solution that lets you build out risk assessments to meet the needs of your entire organization – across functions, business lines, and geographies, and throughout the relationship lifecycle – from pre-award to retirement or termination. With hundreds or even thousands of third parties to assess, it is important to understand everything from inherent risk to residual risk.

With Hiperos you can leverage your own existing vendor risk management framework or pick from our existing templates to segment your suppliers by risk. Hiperos provides an easy to use, configurable solution with workflow that you can have up and running in weeks.

Risk – Key Features >>