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Governance, Risk, and Compliance Management

Centralize and streamline ongoing supplier governance and compliance management processes with a unified, scalable platform that works out of the box.
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Streamline Ongoing Supplier Governance with Enlighta Spice

Reduce value leakage and foster transparent and collaborative relationships with suppliers through a shared online platform.

Efficiently Oversee Service Delivery

  • Manage and Track Contractual Deliverables: Create, import, or extract contractual deliverables and obligations from all contracts stored within Enlighta Spice in a central repository.
  • Review Meeting Planning and Management: Quickly schedule business reviews at monthly, quarterly, or other relevant cadence. Send automated invitations with pre-populated agendas and stakeholder lists. Effortlessly capture minutes and action items. Track upcoming meetings by type, supplier, and location for easy reference.

Track and Resolve Issues Collaboratively

  • Issue Management: Create, assign, reassign, resolve, and close issues, establishing clear ownership and accountability.
  • Hierarchical structure: Organize issues into parent-child relationships for complex scenarios.
  • Root cause analysis: Identify the root cause of issues to prevent recurrence and improve processes.
  • Automated triggers: Automatically create and assign issues based on events like SLA breaches, invoice errors, or missed deliverables.
  • Duplicate detection: Avoid redundancy by marking duplicate issues.
  • Detailed reporting: Track and report on issue cycle times and volume to identify trends and optimize workflows.
  • Drill-down insights: Gain granular insights by slicing and dicing issue data through interactive dashboards.

Manage Performance and Compliance

  • SLAs and KPI Monitoring: Track service levels (SLAs) and key performance indicators (KPIs). Enable suppliers to self-report performance actuals within Enlighta Spice for efficient performance tracking, trends, and insights.
  • Contract Compliance: Automate D&O (Deliverables and Obligations) approval workflows. Set up reminders for approval deadlines as well as contract expiry and renewals to stay compliant.

Manage Demand and Utilization

  • Invoice Validation: Streamline invoice processing with multi-level review and approval workflows.
  • Real-time Spend Visibility: Gain real-time insights into demand, spend, and service consumption for better planning and resource allocation.
  • Utilization Tracking: Monitor the volume of work delivered by each supplier to identify potential inefficiencies or over/underutilization.

Why Enlighta Spice for Vendor Risk Management

Unified

Streamline onboarding, contracting, performance, compliance, and risk monitoring and management with one platform.

Adaptable

Tailor everything from assessments to workflows without code and integrate internal and external data feeds and systems with Enlighta Spice.

AI-Powered

Leverage advanced machine learning rules and NLP to automate contract identification and generation as well as clause extraction, analysis, and updates.

Secure

End-to-end encryption, standalone application deployments, and regular vulnerability assessments guarantee your data’s security.

Resilient

Automated backups, high availability, and uptime SLAs ensure consistent performance and uninterrupted reliability for you and your third-parties.

Scalable

Start small and scale to thousands of vendors, contracts, and users with our modular platform and flexible subscription plans.

See how Enlighta’s Third-Party Risk Management software can help you identify hidden risks and mitigate them 50% faster than traditional TPRM solutions.

Schedule a personalized Enlighta Spice demo today.

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