Vendor onboarding takes 60+ days. 35% of compliance questionnaires have incomplete or missing information.
Automate vendor onboarding, compliance, and performance management
Centralize vendor onboarding, contract tracking, performance scoring, and renewal management. Agents extract terms from agreements, monitor SLAs, and flag underperformance automatically.
4xfaster vendor onboarding (15 days vs. 60)
88%capture rate of compliance issues (vs. 55% manual)
2.5 FTEprocurement staff time freed for strategy
35%reduction in risky vendor incidents
.// The Challenge
The challenge
Procuring companies manage hundreds of vendors. Vendor onboarding is slow: applications, background checks, compliance questionnaires, insurance verification. Staff manually review vendor information against compliance frameworks (SOC 2, ISO 27001, insurance coverage). Performance metrics are tracked manually. Vendor scorecards are outdated. Contract renewals and re-vetting are ad-hoc. Risky vendors slip through gaps.
.// The Solution
How assistents solves it
assistents vendor management agent streamlines onboarding by collecting vendor application data in a guided intake process. Document AI extracts key information from vendor-provided documents (insurance certificates, compliance attestations, financial statements). The agent verifies insurance coverage, performs sanction screening, checks business registry. Integration with DUNS and third-party compliance platforms (Dun & Bradstreet, LexisNexis, Compliance.ai) automates verification. Vendor scorecards are maintained automatically based on performance data (delivery, quality, incident records). Risk ratings guide procurement decisions.
Conversational Agent
Conducts vendor intake interview, requests documents, answers FAQs
Active
Document AI
Extracts vendor details from applications, insurance certificates, and financial statements
Active
Workflow Agent
Verifies compliance, sanction screening, insurance. Auto-rates vendor risk.
Active
.// How It Works
How it works
Initiate onboarding
Vendor applies via portal. Agent collects company info, contact details, service scope.
Request documents
Agent requests insurance certificates, W-9, compliance questionnaire, financial statements.
Verify compliance
Assistant verifies insurance coverage, sanctions screening, DUNS rating, compliance attestations.
Risk rating
Agent computes vendor risk rating based on insurance, compliance, financial health, and service category.
Approve or flag
Low-risk vendors auto-approve and integrate into P2P system. High-risk cases escalate for review.
.// Measurable Outcomes
Measurable outcomes
faster vendor onboarding (15 days vs. 60)4x
capture rate of compliance issues (vs. 55% manual)88%
procurement staff time freed for strategy2.5 FTE
reduction in risky vendor incidents35%
.// Get Started
Ready to see this in action?
Schedule a personalized demo to see how assistents’s AI agents can solve this challenge for your organization.