[Music] hey everyone it's justin here thanks for watching in this video i have two things i want to talk to you about number one vendor management workspace that got an uplift in san diego and number two a new feature in vendor management risk vendor risk management and that is fourth party vendors so let's jump right to it it's probably going to be a quick one this is the vendor workspace so um it's like the new workspaces you've seen a lot of videos on probably already we've got an overview page where we can basically see all of our vendors all the engagements that are ongoing with those vendors and if you look above my head we've got access to some quick actions creating a vendor engagement tiering assessment assessment issues and tasks if you're not sure about those assessments tiering is basically establishing the vendor in service now and then the assessment is actually what the vendor completes just depending on how much risk they post to organization organization and what questions or information you might need from those vendors in order to truly assess the risk down below i've got vendor risk ratings by vendor tier the top risk areas behind my head there issues by priority quick access to those and i have two empty widgets and that's a fourth party overview so i've got a missing widget here around known fourth parties and unknown fourth parties this is mainly because i don't have any demo data inside the system about fourth party vendors and by that i mean not just listing them but having ancillary data too to kind of populate these widgets but i did create one so we'll show you that here in a second if i hop over here and use this navigation menu on the left my next thing to look at is actual risk activity so this would be things that um and you're gonna see this kind of structured in three three columns here the risk assessments the issues and the tasks so i've got basically just the work queue up top down below i've got some pie charts and bar graphs for activities so assessments by state issues by state task by state and then down below that by priority assessment issues and task by priority and then last i have the expiring vendorist assessment so bringing my attention to stuff that's aged and is old and probably needs to come out of the system as in a lot of these workspaces we got task management i'm logged in as myself for the system admin so there's no group there's no tasks assigned to the system admin for vendors or vendor risk but it could be and then last is access just to all the vendor information so i'll call your attention to the left there with vendors and risk assessments vendor risk assessments i'm sorry tiering risk assessments vendor risk assessments issues and tasks like we saw on the dashboard right now text this out so we have a new menu item for all fourth party vendors and i've actually just gone ahead and created one a fourth party demo vendor example so you can kind of see what that looks like it is using the same table that is the same it's the core company table right in fact you can't my url is hidden but this is using core company and the difference is uh well let's look at this form first so you could set up the name the status and that status changes depending on what stage and the process you are evaluating or assessing that vendor their website the duns and bradstreet number node street city states of all contact information you can also document any upstream suppliers related to that vendor but let's go back to the list view and i'll move my head because i want to show you this little filter here is looking at the company table and uh we can see that it's just looking at a flag for fourth party equals true so that's how they're distinguishing um just a regular old vendor to compare to a fourth party vendor so that not much going on there i bet there's some stuff coming in the future where there might be additional functionality related to fourth party but there you can see the um filter in all its glory um right there in the middle but that's it that's the new vendor vendor risk workspace or vendor management workspace and the new feature that's available for fourth party vendors for tracking and service now the reason you might want to do this you know you might have a vendor who you do business with but they may use cloud infrastructure right so maybe google aws azure and so you're not doing business directly with those cloud infrastructure companies but the business that you are doing business with is dependent on them so you may want to track them as fourth party vendors because they may pose risk if they go down or have issues or have data leaks stuff like that i hope you found this video helpful if you did please like please subscribe or share it with somebody you think might be interested until next time i'll see you on the next one [Music] you