ALEXANDRIA, Va. – State Department FCU said yesterday it has signed with Fortex Technologies to implement the company’s VendorPoint system to automate management of its vendor relationships.
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VendorPoint ensures that 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.
