PLANO, Texas – EDS CU yesterday reported it has signed with Fortrex Technologies to implement the company’s VendorPoint vendor management and compliance system.
The $575 million credit union will utilize VendorPoint to increase management efficiency and accountability of vendor relationships while eliminating process ambiguity and meeting regulatory guidelines for vendor risk management.
Fortrex says VendorPoint ensures vendor management policies are being implemented by comparing vendor information with an organization's policy requirements. The technology initiates the processes defined by a company's policy and tracks its progress to ensure that an acceptable level of risk is identified, measured and continuously monitored. VendorPoint also captures the results of compliance reviews and utilizes the data to provide vendor health risk reports as well as vendor contract renewal dates.
Fortrex is based in Frederick, Md.
