VENDOR AUDITS
Streamline vendor audits and reduce the time by half
Eliminate the manual burden of conducting vendor audits. Save time and focus on what truly matters with 6 efficient ways in Wired Relations.
Companies all over Europe already build sustainable GRC programmes with Wired Relations
The challenge
When vendor audits become a waiting game and steal all your energy
Vendor audits are often a tedious and time-consuming task. Some vendors may just need to confirm they process data according to the Data Processing Agreement (DPA), while others require detailed responses to specific questions. Some may send you certifications or documents that you need to sift through.
It's a constant cycle of managing vendor data, sending emails, waiting for replies, following up, and often receiving incomplete or inaccurate information – all while not having enough bandwidth to focus on other priorities for weeks.
What you need is a more efficient workflow.
Typical everyday challenges faced by compliance professionals
Scrambling for the vendor information
Sending a complex Excel-sheet
Checking your inbox 4 times daily for an answer
Following up because of radio-silence
Remembering you have 92 more vendors
6 ways to speed up your vendor audit workflow with Wired Relations
Get a clear overview of audit methods
Choose how you want to audit the vendor and describe why, making it easy for everyone to work on the audit workflow. You can add or modify audit methods to match your company's specific workflow.
Send pre-filled audit questionnaires for data confirmation
Forget about using emails, spreadsheets, and folders. You can send audit questionnaires directly from the system, pre-populated with all relevant vendor data. The vendor simply reviews, confirms, or updates their information. The data is then automatically returned to the system for your review.
Get notified when the vendor completes the questionnaire
Once the vendor has submitted their answers, you’ll receive a notification, allowing you to promptly evaluate their responses. All historical questionnaires are also saved for easy comparison with previous submissions.
Evaluate the audit results for better vendor management
After reviewing the answers, you can assess whether additional action is needed. Track the task progress and get a simple overview of which parts require further follow-up.
Get a clear workload overview on vendor audits
Turn vendor audits into recurring tasks with the Task Manager function. Get notifications whenever an audit is due, and have a clear view of your ongoing and upcoming vendor audit activities throughout the year.
Import your vendor list and start audits immediately
If you already have a vendor list outside of Wired Relations, you can upload the list to the system and start your vendor audit workflow within minutes.
Ensure compliance with industry standards and regulations
Depending on your company and business location, vendors must adhere to industry standards, such as ISO and GDPR, to guarantee consistent quality and security. Vendor audits in Wired Relations help confirm whether your vendors are meeting these regulatory requirements.
Evaluate vendor performance against contractual obligations
Regular audits review how well vendors meet their contractual obligations and deliver expected quality and services. This helps you assess whether they are providing the agreed-upon quality.
Monitor ongoing compliance and performance
Auditing doesn’t stop once the report is complete. Ongoing monitoring of vendor performance ensures continuous compliance with both your standards and industry regulations, mitigating any risks of non-compliance or service failure.
Strengthen your supply chain resilience
Vendor audits help ensure that your vendors are capable of handling disruptions and complying with contingency plans. This, in turn, reduces the likelihood of supply chain disruptions and quality issues affecting customer satisfaction.
Key benefits of doing vendor audits
