Case Study: a leading healthcare technology company achieves faster vendor onboarding and stronger risk management with Supply Wisdom

Supply Wisdom enhances third-party management at Fortune 500 Healthcare Technologies Company with greater process efficiency and ROI

A leading healthcare technology company faced significant challenges in its third-party risk management (TPRM) program, including inefficient vendor onboarding, the absence of a master vendor list, and a lack of continuous monitoring. To address these issues, the company partnered with Supply Wisdom and leveraged its Comprehensive Risk Intelligence reports to enhance their assessment capabilities.

Supply Wisdom implemented a proactive solution that integrated its monitoring products into the client’s internal audit processes. This eliminated outdated questionnaire methods and established a repeatable TPRM program. The results were substantial, including a decrease in vendor onboarding time by four months and estimated annual savings of over 350,000 man hours, delivering a significant return on investment.