What is Vendifi?

04.11.24 02:38 PM Comment(s) By Boitumelo

Understanding Vendifi: Your Comprehensive Solution for Vendor Management and Compliance

Introducing Vendifi: A vendor management and compliance solution that empowers businesses to streamline vendor onboarding, automate compliance checks, and maintain secure, centralized data within your Microsoft environment.

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In today’s fast-paced and interconnected world, companies are under immense pressure to manage and monitor their vendor relationships closely. From regulatory compliance and data security to operational efficiency, vendor management is no longer just a routine task—it’s a critical part of the business strategy. Yet, managing multiple vendors, staying compliant, and keeping sensitive data secure can be overwhelming.

This is where Vendifi comes in.

Maybe you've heard of Vendifi, through a friend, a colleague, or even a friend of a friend. Or maybe you’re entirely new here! However you've come across us, you might have questions—and we're here to answer them.

What is Vendifi?

Vendifi is a Microsoft-based vendor management and compliance tool designed for businesses in regulated industries. Built on SharePoint and Azure, Vendifi ensures complete control over your data within your Microsoft environment, automates key compliance workflows, and integrates seamlessly with Office 365 and Teams to simplify vendor due diligence and regulatory checks.

Vendifi was created by PKF Digital, a joint venture between PKF Littlejohn and GTconsult. After many years of collaboration both parties identified a need in the market for a robust, enterprise-grade vendor management system that focused on governance, risk and compliance. With deep insights into auditing and due diligence, PKF Littlejohn, the 12th largest firm in the UK, brings multiple levels of expertise to the vendor management requirements. GTconsult is a global award-winning Microsoft Partner agency that has built multiple enterprise grade software solutions for some of the world’s largest companies. The joint venture ensures that both parties align to create the best possible solution.

Key features of Vendifi

VENDOR REGISTER

The Vendor Register within vendifi is a centralised platform designed to streamline and enhance the vendor management process. It serves as a comprehensive database for storing and managing all relevant vendor information, including contact details, certifications, insurance information, and performance history.

COMPLIANCE TEMPLATES

The Compliance Templates feature provides organisations with a valuable tool for ensuring adherence to industry regulations and best practices. These pre-designed templates offer standardised contracts, policies, and procedures that can be easily adapted to specific vendor relationships.

Spend Insights

The Spend Insights feature within vendifi provides organisations with valuable insights into their vendor spending patterns. By analysing historical data and identifying trends, this tool empowers businesses to make data-driven decisions and optimise their procurement processes.

Map Systems & Processes

The Map Systems & Processes feature within vendifi provides a visual representation of an organisation's vendor management workflows.

Automate Risk Identification

The Automate Risk Identification feature within vendifi leverages advanced analytics and machine learning to proactively identify potential risks associated with vendor relationships.

Vendor Lifecycle

The Vendor Lifecycle Management feature within vendifi provides a comprehensive framework for managing vendor relationships throughout their entire lifecycle.

Contract Management

The Contract Management feature within vendifi provides a centralised platform for managing vendor contracts throughout their lifecycle.

Internal Rating

The Internal Rating feature within vendifi provides a mechanism for collecting feedback from internal users of vendors' software or services. By conducting regular surveys, organisations can gain valuable insights into user satisfaction, identify areas for improvement, and make data-driven decisions regarding vendor relationships.

AI Document Identification

The AI-Powered Document Identification feature within vendifi utilises advanced artificial intelligence to streamline the due diligence process.

Vendor Email Domain Risk Check

The Vendor Email Domain Risk Check feature within vendifi provides a comprehensive analysis of vendor email domains, identifying potential security vulnerabilities and mitigating the risk of email fraud.

Learn more about our key features and benefits by listening to our audio whitepaper. Fun fact: None of these podcast hosts exist! What the AI!???

Why Vendifi?

The modern supply chain is increasingly digital and, therefore, increasingly vulnerable. Vendor management is no longer just a best practice—it’s becoming a critical requirement as regulations like the Digital Operational Resilience Act (DORA), set to come into effect in January 2025, place a strong emphasis on vendor oversight, data security, and operational resilience. These regulations require businesses to maintain strict compliance standards and proactively manage and monitor vendor relationships to ensure operational stability and cybersecurity.

Vendifi addresses these risks and requirements directly, equipping your team with the tools to monitor vendor compliance and ensure sensitive information remains secure and aligned with regulatory standards. By actively managing and mitigating supply chain risks, Vendifi acts as a first line of defence, helping your organization stay ahead of regulatory obligations and safeguard against potential vulnerabilities. And the best part? Your data, remains yours! It's really none of our business.

The business benefits of Vendifi

Cost Savings

By reducing the time and resources required for vendor management, Vendifi saves money while boosting efficiency.

Enhanced Compliance

Vendifi streamlines and automates regulatory processes.

Improved Efficiency

Automation and centralization make compliance and documentation management faster and simpler, freeing up your team to focus on high-impact work.

Reduced Administrative Burden

Vendifi’s user-friendly interface and seamless integration into your environment reduce the burden on your team, allowing them to quite literally, set it and forget it.

A Solution That Fits Your Bigger Picture

Vendifi is more than a vendor management tool—it’s part of a comprehensive approach to business efficiency and compliance. Whether you’re a small business or a large enterprise, Vendifi scales to meet your needs, supporting growth and minimizing risks in an ever-evolving landscape.

Ready to Get Started?

If you’re ready to streamline your vendor management and strengthen compliance, Vendifi is here to help. Let's simplify your vendor management and vendor compliance- book a demo now!

Discover how easy it can be to make vendor compliance and management work for you!

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