Vendor Risk Management Software

The Vendor is required to provide of identifying a vendor risk management software platform that can support the full lifecycle of third-party risk management.
- Provide to gather detailed information from qualified vendors regarding Vendor Risk Management (VRM) solutions.
- Strategic Technology Solutions is seeking to identify a platform that can support the full lifecycle of third-party risk management-from vendor onboarding and due diligence to continuous monitoring, compliance management, and off boarding.
- Vendor Onboarding and Due Diligence
•    Support automated onboarding workflows for new vendors
•    Allow for customizable due diligence questionnaires
•    Support risk tiering based on vendor criticality, data access, and service type
•    Allows for different processes and questionnaires depending on risk tier/agency/group
- Continuous Monitoring
•    Support all-source monitoring of vendor risk posture, pulling data from multiple sources to continuously evaluate our vendors
•    Generate alerts for changes in vendor risk status or known incidents
- Ability for multiple state agencies to use the solution under one master account and the creation of subaccounts for each agency to manage their vendors
- Support single sign-on (SSO) and role-based access control
- Support exportable reports (PDF, Excel) and scheduled reporting.

- Questions/Inquires Deadline: December 9, 2025