Vendor financial health: Your credit union should review these 3 statements
Financial health is one of the many risks to worry about with a vendor to ensure they aren't having financial issues that could end up affecting your credit union. But, what documents should you request and collect? Do there need to be multiple documents or just one key piece? And then once you get them, what do you look for? It can be difficult to figure out what you need in order to understand a third party's financial status and then how to decipher it. But, this infographic should be straight forward to help.
Download the infographic to learn:
- 3 financial documents to collect from vendors
- What to look at within those statements
- Important indicators
Venminder is an innovative, customer-motivated company that is mission-driven to help solve the many challenges organizations face when managing risks from outsourcing to third parties.
Venminder provides a dedicated platform to empower effective end-to-end lifecycle management and mitigation of third-party risks. Venminder creates long-term collaborative partnerships with their customers, providing implementation assistance, product and best practices training, ongoing support, access to expertise and more.