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Risk & Audit

Vendor Risk (VRM)

Every vendor you use inherits into your own risk posture — VRM gives you a structured way to evaluate and keep tabs on that exposure.

It starts with a vendor inventory, tiered by how much access a vendor has to sensitive data or systems. Higher-tier vendors are asked for evidence — SOC 2 reports, ISO certificates, security questionnaires — and lower-tier vendors get a lighter review. Instead of a one-time check at signing, vendors are re-assessed on a recurring cycle.

See how LumiGRC handles Vendor Risk (VRM)

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Tiered

Vendor risk scoring

0%
Typical rollout profile
Setup Effort62%
Time to Value40%
Automation Level77%

Key Points

  • Centralized, tiered vendor inventory
  • Automated security questionnaires
  • Collects SOC 2 / ISO evidence directly from vendors
  • Recurring re-assessment, not a one-time check