Vendor Custom Categories

We are excited to announce the introduction of custom vendor categories in the 'Vendor Management' module. This new feature empowers you to create and manage your own vendor categories, allowing for a more flexible and tailored approach to vendor risk management.

Use case/Pain point solved

Previously, you were limited to selecting from a pre-defined list of vendor categories. This might not always have perfectly aligned with your specific organizational needs and could have led to:

• Difficulty in accurately classifying vendors based on their relevance to your organization.

• Inability to effectively categorize vendors within your industry or risk profile.

• Inconsistent vendor classification across different teams or departments.

How does it work?

Creating custom vendor categories is now a seamless process:

1. Navigate to the 'Vendor Management' section.

2. Click the "Settings" icon.

3. Click the "Category" tab.

4. To create a new category, click "New Category".

5. Add the category name and click "Save".

6. To delete an existing category, click the "Delete" icon.

Note: Existing vendors of that category will be linked to the “Others” category.

If you have any questions or issues, please reach out to your assigned Customer Success Manager. They'll be happy to assist you!

To view all the product updates, please click here.