Origami Risk has announced the availability of its new online global vendor risk management solution.

The single platform for managing insured and uninsured risks offers risk intelligence and industry best practice resources to help risk professionals obtain detailed vendor solvency and cyber security governance information and conduct extensive risk assessments.

The tool can also be used to monitor compliance with multiple aspects of contractual requirements, such as stipulated insurance coverages, cyber security protocols, employment practices, workplace health and safety standards, business conduct and conformity with international human rights conventions.

“Regardless of whether an enterprise works with one or two trading partners or is a multinational organisation with a global supply chain involving hundreds of vendors, its leadership, risk management and operations teams all need to understand and manage risks associated with their critical vendors and other third parties,” said Earne Bentley (pictured), president of the Risk Solutions division of Origami Risk. “Maintaining oversight of vendor relationships is critical to operational resiliency and sustainability, but these efforts can be incredibly complex and time-consuming. Our solution uses automation and leverages our versatile platform to help clients streamline these processes, drive efficiencies and flag a wide range of potential issues.”

Origami’s solution also includes functionality to track and manage required certificates of insurance centrally, as well as within different divisions, departments, operations and locations.

Functionality can be tailored to address the unique needs and considerations of specific industries, such as pharmaceutical/life sciences, manufacturing, technology, hospitality and foodservice, construction, energy, utilities/power, among others.

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