Vendor Risk Management - Contracts handling before Tiering Assessments

[User480943]

VRM:

Currently OOB there is no easy way to handle the Contract process of the Vendors before a Tiering Assessment get generated . We want to have a control over this and seggrgate the vendors in serviceNow to show Vendors whose Contracts are already approved Vs. Whic are ongoing . what is the best way to implement this ?

[Sohail Khilji]

@User480943 ,

There wont be any static OOTB way to handle this, you need to customize the process and flow according to your contract needs. You'll have to decide how the contract approved vs un-approved can be handled in vendor assessment and adjust the flow/process accordingly.

I hope this help...

[User480943]

Hi Sohail

Considering the contract process is already there, how to differentiate vendors with status Ongoing Vs Approved contracts . Adding a new flag can be a best practice in the Company table - Vendor view or something else? If the Contracts are not approved after Tiering assessment it should not go for vendor assessment.

[Sohail Khilji]

Hi @User480943,

What do you have to do with the vendors whose contracts are onGoing ? its good to have only approved vendors in vendor table unless you have anything to do with unapproved vendors. Instead of field you can think of having a addinfomessage which says this is an ongoing vendor based on your busness needs.