GRMS’ Supplier Risk Assessment Services are designed to assist our clients to significantly reduce supplier risk on a global basis.
See how GRMS can help your company.
Supplier risk management is a top corporate objective but identifying and monitoring supplier risk on an enterprise wide basis is a difficult challenge for most companies. Managing suppliers in multiple countries as well as staying knowledgeable about the myriad of ever-changing global watch lists and compliance regulations is nearly impossible. Resources are limited, consistent standards are not applied, and consolidated reporting is difficult at best.
GRMS’ Risk Assessment Programs are designed to assist companies to identify and reduce risk in their supplier base on an enterprise wide basis. GRMS has specifically designed eight modules to mitigate and continuously monitor risk for U.S. based and internationally located suppliers. Each module provides consistent measurable standards which can be focused on strategic suppliers or can be tailored for a wider group. Each module can be easily implemented and includes robust reporting functionality.
The GRMS Difference:
A service not a data source
GRMS is the recognized leader for providing global enterprise-wide risk assessments of suppliers, contractors and service providers.
The primary difference between GRMS and data only providers like D&B, Thomson Reuters, etc. is that GRMS is not a “data source or searchable database,” but rather a “technology-driven service company.”
Data source companies provide inexpensive raw data that has not been verified, and they do not validate documents. GRMS provides services that include the verification of data, physical review of documents and a support system that assists suppliers to get into compliance with their client’s risk assessment requirements.
GRMS' Risk Modules
GRMS has created eight primary modules that are comprised of a subset of risk components targeting key areas of supplier risk. Each client can select the modules and/or components which best meets their needs based on factors such as geography, risk and spend.