Vendor Management Software

THIRD-PARTY RISK MANAGEMENT

Vendor Management
Software

Manage your third-party risk with Tandem

Companies are increasingly dependent on third parties to provide services.
With this increased use of vendors comes the need for increased oversight.

Avoid complicated spreadsheets, manually updated calendars, and trying to
organize files across network folders. Tandem provides a simplified and
streamlined interface, designed to organize your vendor management program.

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Oversight

Manage and store your important vendor relationship details.

Combining a central repository of vendor data with powerful reporting provides time-effective access to the information you need to oversee your vendors.

Risk Assessment

Assess the significance of your vendor relationships using a consistent questionnaire.

Then, rate each vendor's risk across a customizable list of risk categories (e.g., strategic, reputation, operational, transaction, credit, and compliance).

Contract Management

Organize important information about your vendor contracts in a central location.

Complete contract reviews based on templates and stay informed of key contract dates with automated reminders.

Due Diligence

Automate the collection of third-party due diligence documentation through Tandem (E.g., SOC reports, financial statements, proof of business continuity testing, etc.).

Create rules for required documentation based on relationship significance questions.

Then, send customizable questionnaires to your contacts and have them securely submit their responses and documentation into Tandem. Monitor the status of your requests with built-in reports and email notifications.

Reporting

Use more than 30 flexible reports to increase visibility into your vendor relationships and identify gaps in your vendor oversight program.

Based on the data stored in Tandem's central database, these reports provide accurate and efficient details about your vendor contracts, documents, and reviews. Get equipped with the data you need to make informed decisions.

Event Tracking

Gain full insight into your upcoming and past due oversight events through a calendar view, reports, and customizable email reminders.

Ensure responsible parties are aware of events such as contract expirations, termination notices, document expirations, and scheduled reviews.

Reviews

Conduct, document, and report on a variety of vendor reviews, including a general vendor review, covering Quality of Service and Risk Management practices.

Reviews for contracts and documents are also available, including templates for SOC Report Reviews and Financial Statement Reviews.

Use Tandem suggested review templates or create your own for specialized reviews you conduct.

Downloads

Generate consistent and professional documents effortlessly.

Create your own or filter Tandem-recommended documents to export the right amount of vendor data to share with senior management, board of directors, auditors and examiners.

These customizable documents are available in Microsoft Word and Adobe PDF formats.

Additional Features

Visualize your risk exposure with charts and graphs
Assign responsibility and various levels of access to users
Store unlimited vendor records and related files
Access vendor contact information on-the-go through the Tandem mobile app
Add as many user and administrator accounts as needed
Identify missing or incomplete vendor data with reports
Set up email reminders for contract and document dates
Create and monitor the status of tasks assigned to users

"Tandem is an excellent product that I highly recommend. It has helped us to fill the gaps regarding our BCP and Risk Assessments. It was a major help with our last NCUA exam with the addition of the ACET request list. I have nothing but great things to say about Tandem!"

Crystal Woodward-Smith

Compliance Officer

Hope Federal Credit Union in Jackson, MS

"Tandem is extremely easy to use. I just started in the system (in earnest) and was able to quickly navigate through the steps. It’s very logical, comprehensive and I’m hopeful it will result in easier reports and exams. It’s a phenomenal option for a bank our size."

Robin Banell

VP of Compliance, Internal Control Officer

F & M Bank in Edmond, OK

"Thanks for all that you folks do to support and improve the software. We’ve been impressed with Tandem since day one; especially the responsiveness of the support and development teams with our needs and requests for new features. Thanks for all you do."

"We are so happy to have a partner like Tandem. Your products help our community bank compete with larger, regional and national banks without the expense of a huge staff."

Chris Manus

Information Technology Manager

Citizens Bank in Carthage, TN

"If honesty and integrity are values that resonate when selecting an Information Security technology partner, then Tandem software is for your institution. Every employee on the Tandem team is committed to sustaining tools for your bank to build a custom program compliant with current regulatory guidance."

Jack Clarke

VP of Operations

First American Bank in Artesia, NM

"The Tandem Business Continuity Planning software has streamlined how we manage business continuity for our bank. Before Tandem, we lost files and had to update and make changes to a Word document. This software has helped us focus on the important aspects of business continuity and made it easier to update, train, and report to our Board of Directors."

Brandi Shiflett, EVP

Senior Operations Officer

North Dallas Bank & Trust Co in Dallas, TX

"Tandem’s Business Continuity Planning software is a strong program that integrates well with Tandem’s Vendor Management software. It provides good reports for our Board of Directors and Management. It is easy to update, and I am able to access it from anywhere… even on my phone."

James Tipton, EVP

Enterprise Risk Manager

North Dallas Bank & Trust Co. in Dallas, TX

"Tandem's Business Continuity Planning software has given us the direction we needed to establish good processes for our organization."

Ron Dittmann

VP of IT

Texas Trust Credit Union in Mansfield, TX

"First, I want to thank Tandem for being such a great partner of ours. We are extremely grateful for the tools you have provided. Particularly, your BCP program and the employee alert system. As of right now that is our main communication system for most of our employees."

"Tandem Vendor Management has made the process for collecting and tracking documents a breeze. The Vendor Management system is easy to use, yet quite powerful software. The software has saved us time from old spreadsheets and a manual vendor review process. I would highly recommend any organization to this system."

Kyle Moreland

Compliance Officer

Johnson City Bank in Johnson City, TX

Frequently Asked Questions

Does Tandem provide vendor management templates?

Yes. Tandem provides template language in the software that we call "suggested content." This includes suggested review templates for contracts, SOC reports, financial statements, general performance, etc.

Tandem also includes suggested significance questions and required document types to help you determine applicable due diligence to request from your vendors. You can use our suggested content as a starting point, and quickly adapt the language to fit your company's unique requirements.

Beyond the content, the vendor oversight framework provided by Tandem is significantly more effective than typical Excel or Word templates.

Tandem consolidates and streamlines the vendor oversight process into one easy-to-use platform, eliminating much of the "busy work" of vendor management.

Is there someone at Tandem who can help with my vendor management?

Yes. Tandem Support is available 8:00 AM -5:00 PM (CT), Monday through Friday to answer your questions about Tandem application features.

For help with establishing or executing your vendor management program, check out our partners who can provide vendor management consulting.

You are also invited to attend our annual KEYS conference to connect with other users and learn from Tandem experts.

What training options are available?

Tandem is pleased to offer complimentary training webinars each month for our customers. These webinars are recorded and available on-demand.

A Knowledge Base is available with articles to help you learn about Tandem. You can stay up-to-date on our latest features by subscribing to our Software Update emails.

Product training is also available by request for an additional fee.

Will my data be secure?

Yes. Tandem maintains high marks through the following testing: SSAE 18 SOC 1 Type 2, internal audits and assessments, quarterly penetration tests.

Security controls include:

Secure data transmission between your browser and your servers
Data encrypted at rest using AES-256
User passwords are hashed and salted
Datacenter protected by firewall and intrusion detection/prevention systems (IDS/IPS)
Redundant internet connections
Multifactor authentication options
Single Sign On (SSO) integration using SAML 2.0
IP address restrictions
User activity log
User access roles/restrictions

How is Tandem installed and updated?

Tandem products are delivered via the internet as Software-as-a-Service (SaaS) applications. Tandem can be accessed from any device with a modern web browser. No software installation or special equipment is required.

New features and updates are included with your annual subscription and are automatically available. Each new feature is documented in our Software Updates blog.

Does this product integrate with other Tandem products?

Yes. Tandem Vendor Management integrates with Business Continuity Planning, Risk Assessments, and Audit Management, to provide seamless sharing of data and help avoid duplication of information.

All Tandem products are available under the same secure website.

Can I manage accounts for multiple companies?

Yes. With a single login you can manage several companies' risk assessments (requires a subscription for each company).

THIRD-PARTY RISK MANAGEMENT