Question: Is there a vendor management system that can help me reduce compliance and risk in my contingent labor program, and ensure global operations are aligned with local regulations?

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Workday VNDLY VMS

One top contender is Workday VNDLY VMS. It's tightly integrated with Workday Human Capital Management (HCM) to help you better manage contingent labor. It includes tools for extended workforce management, statement of work management and worker profile management. With automation and machine learning, it offers visibility into your workforce and helps you with compliance and risk management through standardized workflows and industry-leading security controls. It's designed to accommodate global requirements, including invoicing, employment laws and data regulations, so it's a good fit for companies that want to modernize their contingent labor management.

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Prevalent

Another strong contender is Prevalent, a third-party risk management platform that uses AI and automation to evaluate and mitigate security risks to your company from vendors and suppliers. The platform offers vendor risk assessment, monitoring, compliance and AI-powered abilities, so it's adaptable for risk management in industries like finance, health care and retail. It's a scalable and efficient way to manage third-party risk, taking the burden off teams that otherwise would have to perform manual risk assessments and offering services like due diligence collection and analysis.

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ProcessUnity

For a more complete third-party risk and cybersecurity management, ProcessUnity is a strong option. It automates the entire risk lifecycle from onboarding to continuous monitoring. The platform includes customizable workflow templates, a Universal Data Core for consolidating risk data, and a Global Risk Exchange with a large library of validated risk assessments. It's backed by AI-powered tools, and it's highly customizable and has been named a Leader in the Forrester Wave for Third-Party Risk Management Platforms. It's a good option for companies that want to modernize their vendor management and risk monitoring.

Additional AI Projects

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Venminder

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NAVEX

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JAGGAER

Automates procurement processes, including contract management and predictive analytics, to drive business profitability and optimize source-to-pay operations.

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Whistic

Automates vendor assessments, streamlines security information exchange, and provides a single view of the supply chain to reduce breach likelihood and improve customer trust.

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Craft

Streamlines supplier risk assessment with a 360-degree view, enabling informed decisions, disruption avoidance, and improved supply chain performance.

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Panorays

Continuously monitors and adapts defenses for each unique third-party relationship, providing real-time risk scores and actionable threat alerts to defend against cyber threats.

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Ivalua

Leveraging generative AI, this platform provides a unified source-to-pay solution, automating and optimizing procurement processes to increase efficiency and reduce costs.

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UpGuard

Gain unparalleled visibility into attack surfaces and third-party risk with automated scanning, evidence analysis, and real-time insights for informed decision-making.

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Drata

Automate compliance journeys with adaptive automation, 140+ integrations, and pre-mapped controls, ensuring continuous control monitoring and audit-readiness.

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Coupa

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Coupa Supplier Management

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Auditive

Continuously monitor vendors against specific security requirements, automating risk assessments in seconds and streamlining third-party risk management.

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Omi

Streamlines contract and vendor management workflows, automating renewals and providing centralized financial controls for improved visibility and operational efficiency.

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RiskRecon

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Sapience

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SAP SuccessFactors

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Avature

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LegitScript

Combines AI technology with human expertise to assess, mitigate, and manage third-party risk, providing accurate results and detailed insights for safe growth.

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LRN

Boosts engagement and personalization in ethics and compliance training with AI-powered solutions, offering real-time analytics and insights to reduce organizational risk.

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Dayforce

Unifies HR, payroll, benefits, talent, and workforce management in one place, powered by AI, to simplify complexity and drive business decisions.