Third Party Risk Management Software

The Vendor is required to provide third party risk management software software-as-a-service (SaaS) solution to support comprehensive vendor risk management across a multi-institution, multi-campus environment.
• The solution must enable participating institutions to centrally manage vendor information, assess and monitor vendor risk, support compliance activities, and facilitate collaboration across campuses and departments.
• The solution must be scalable to support organizational growth and an expanding vendor base, with initial implementation for core technology services (CTS) and one or two pilot campuses and the ability to expand to additional campuses over time.
• The solution shall support identification of campus-specific vendors while maintaining a centralized approach for enterprise visibility and reporting and should enable data structures or reporting capabilities to support a future chargeback methodology based on usage or vendor ownership.
• Solution as a secure, fully hosted SaaS offering that includes all required infrastructure, maintenance, updates, security management, and operational support.
• The solution must support multiple institutions within a single environment, provide institutional data separation while enabling consolidated system-level reporting, and eliminate duplicate vendor records through a centralized repository for vendor information and risk profiles.
• The solution should support integration with third-party data sources and provide a secure vendor portal for self-service activities such as completing assessments and maintaining vendor information.
• The solution must include strong security, access, and data management capabilities, including role-based access controls with granular permissions, full audit logging, and support for defined user roles (e.g., administrators, campus reviewers, procurement users, read-only, and reporting users).