Compliance reporting has traditionally been one of the most time-consuming aspects of vendor risk management. Teams spend weeks gathering data from multiple sources and vendor relationship owners, and then manually calculating SLA performance. Whether you're preparing for regulatory compliance or need regular internal vendor performance tracking, this manual approach simply isn't sustainable.
Enter Clarative's One-Click Compliance Reporting—a new feature that transforms hours of manual work into a single click, delivering vendor performance reports that automatically tie monitoring data to your contractual SLAs and highlight potential violations.
Clarative's One-Click Compliance Reporting leverages our monitoring infrastructure to automatically generate detailed compliance reports that combine:
Real-Time Monitoring Data: Our uptime tracking from public vendor incident reports and synthetic monitoring data provide a complete picture of vendor performance, including incidents that may not have been officially reported.
Automatic SLA Mapping: The platform automatically connects detected outages and performance issues to your specific contract SLAs, eliminating the need for manual cross-referencing.
Violation Calculations: When incidents occur, the system evaluates whether they constitute SLA violations based on your contract terms, taking into account factors such as duration thresholds, severity levels, and cumulative impact.
Comprehensive Reporting: With a single click, you can generate reports that include vendor performance summaries, SLA compliance metrics, violation details, and trend analysis over any specified time period.
Clarative's One-Click Compliance Reporting serves dual purposes: meeting regulatory requirements and enabling effective internal vendor management.
For Compliance Teams: When regulators ask about your vendor monitoring capabilities, the reports provide immediate, comprehensive answers. They demonstrate not just that you're monitoring vendors, but that you're doing it continuously. Under frameworks like DORA's ICT Third Party Risk Management requirements, financial institutions must demonstrate continuous monitoring of their critical technology service providers. Clarative's reporting directly addresses these requirements by providing clear evidence of ongoing oversight and SLA tracking.
For Operational Teams: These reports eliminate the need to chase down business owners for vendor performance updates or waste time conducting reviews of well-performing vendors. Instead of reactive vendor management, teams get upfront performance insights that enable them to focus their attention on problematic relationships, make data-driven decisions about vendor partnerships, and proactively address service quality issues before they escalate.
For organizations preparing for regulatory compliance or looking to streamline their existing vendor reporting processes, this new capability represents a significant step forward in making both compliance and operational vendor risk management more thorough and more manageable.
Contact Clarative to learn how One-Click Compliance Reporting can save your team time while providing the comprehensive vendor oversight that regulators expect.
