Leverage continuous third-party vendor monitoring

Integrating RapidRatings data into Onspring provides predictive visibility into the financial risks associated with both public and privately-held third-party and even fourth-party suppliers, vendors and partners. Through its proprietary analytics model, RapidRatings measures the financial health of public and private companies and delivers a 0-100 score known as its Financial Health Rating (FHR®).

This real-time insight paired with detailed reports and responsive workflows in Onspring elevates your third-party vendor management to help you make business decisions more confidently.

RapidRatings Risk Integration Partner with Onspring

Tracking your vendor’s financial risk

  • Comprehensive, real-time third-party vendor monitoring data embedded into your Onspring instance

  • Trigger automatic vendor assessments when financial scores drop below your designated threshold

  • Streamline the record creation and remediation of third-party financial issues as they surface in evaluations

  • Auto-assign tasks to vendor managers when financial data requires follow-up information

  • Enhance risk scores with RapidRatings continuous monitoring data feeds

Third-party vendor monitoring is easier with Onspring

Transparency

Ongoing financial intelligence facilitates due diligence, onboarding and assessment processes.

Accuracy

Objective, quantitative insights and predictive indicators yield better business decisions.

Efficiency

No more manual research and subjective scoring of third parties in multiple systems.

Proactivity

Identify financial risk likelihoods and activate mitigation measures before issues occur.

Bottom 5 Vendors by Financial Health Rating in Onspring
Financial Health Trends
Third-Party Risk Management Onspring Solution Brief_Page_1

How can Onspring’s Third-party/Vendor Risk Management software help you?

It’s all about visibility. Dive into the details of Onspring’s Third-party/Vendor Risk Management software, including, dashboard filtering, automated workflows and multi-app reporting.

See the RapidRatings integration for yourself

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FAQS

No. We offer a data connector that pulls data from your RapidRatings subscription into Onspring to fuel your third-party financial risk reports and trigger risk remediation tactics.

No. Onspring provides an out-of-the-box dashboard featuring multiple, ready-made reports for RapidRatings data and identifying financial risk. These reports include third-party data by leverage rating, liquidity rating, earnings performance rating, and more. You can build new reports or customize the ready-made options on your own with the use of Onspring’s self-administration and no-code functionality.

No. You can take full advantage of the automation and analytics capabilities of Onspring without a subscription to RapidRatings. But adding data from a RapidRatings subscription into Onspring provides centralized management of third-party risk, eliminating the need to log into multiple software systems. Plus, you can action remediation tasks from changes in vendor scores automatically in Onspring.