Due Diligence and Ongoing Monitoring

 View Only
  • 1.  Vendor Performance Satisfaction Questionnaire

    Posted 10-24-2023 04:34 PM

    Does anyone have any best practices they would be willing to share surrounding capturing end user vendor performance satisfaction? As we build out and mature our TPRM program, we would like to start capturing some of the the less tangible returns on our investments. My initial thought is this would fit in best at the time of annual ongoing reviews in the form of a questionnaire to the business owner(s). Does anyone have any experience in this area or any suggested questions to gauge overall vendor product satisfaction? I am thinking CSAT for our vendors that captures the internal business owner satisfaction as well as any potential end user/customer experience feedback. Thanks!



  • 2.  RE: Vendor Performance Satisfaction Questionnaire

    Posted 10-24-2023 05:01 PM

    Stephen...I did something similar in a past job, the User Satisfaction Survey worked great & provided some valuable feedback.  We did have it go to an independent department....Best.. Lou



    ------------------------------
    Lou
    ------------------------------



  • 3.  RE: Vendor Performance Satisfaction Questionnaire

    Posted 10-27-2023 11:23 AM

    Hi Lou, was it something similar to this? https://www.questionpro.com/survey-templates/user-satisfaction-survey/




  • 4.  RE: Vendor Performance Satisfaction Questionnaire

    Posted 10-27-2023 12:03 PM

    Hello Stephen,

     

    Yes, however we did some customization to reflect the company, users, and vendor/product.

     

    Best,

     

    Lou

     



     

    Hi Lou, was it something similar to this? www.questionpro.com/survey-templates/...

    Community dedicated to third party risk professionals.


    Third Party ThinkTank

    Due Diligence and Ongoing Monitoring

     

    Re: Vendor Performance Satisfaction Questionnaire

    Oct 27, 2023 1:23 PM

    Stephen Meyer

    Hi Lou, was it something similar to this? www.questionpro.com/survey-templates/...


    Original Message:
    Sent: 10-24-2023 06:45 PM
    From: lou tinto
    Subject: Vendor Performance Satisfaction Questionnaire

    Stephen...I did something similar in a past job, the User Satisfaction Survey worked great & provided some valuable feedback.  We did have it go to an independent department....Best.. Lou



    ------------------------------
    Lou

      View Thread   Like   Forward   Flag as Inappropriate  



     

     

    You are subscribed to "Due Diligence and Ongoing Monitoring" as louis.tinto@cityelectricsupply.com. To change your subscriptions, go to My Subscriptions. To unsubscribe from this community discussion, go to Unsubscribe.




    Original Message:
    Sent: 10/27/2023 1:09:00 PM
    From: Stephen Meyer
    Subject: RE: Vendor Performance Satisfaction Questionnaire

    Hi Lou, was it something similar to this? https://www.questionpro.com/survey-templates/user-satisfaction-survey/



  • 5.  RE: Vendor Performance Satisfaction Questionnaire

    Posted 10-25-2023 06:10 AM

    Hi Stephen. Sharing what I use below. Apologies in advance for the crude copy/paste. Hard to share the drop-downs in my tool, so bear with me.

    I have several sections: General, Performance, Availability and Reliability, Compliance, Monitoring, and Overall Satisfaction. You can figure out which questions fall into each category.

    The format doesn't let me paste the questions along with the responses, so here is a list of most of the selections for responding: Yes/No; Neither satisfied nor dissatisfied/Somewhat dissatisfied/Somewhat satisfied/Very dissatisfied/Very satisfied/NotApplicable; Agree/Disagree/Neutral/Strongly Agree/Strongly Disagree/NotApplicable.

    1.1 Vendor you are filling out this survey for: (Single selection allowed) *
    1.2 My role relative to this vendor is best described as: (Multiple selections allowed) (Allows other) *
    2.1 Are there agreed-to service level agreements (SLAs) defined in the contract? (Single selection allowed) *
    2.2 Have there been any issues with achieving the agreed-to SLAs in the last quarter? (Single selection allowed) *
    2.3 Please explain what action(s), if any, was taken by Oportun and/or by the vendor to resolve the SLA issues. *
    2.4 When thinking about vendor performance, how satisfied are you with the following:
    2.5 Timeliness of product / service provided (Single selection allowed) *
    2.6 Quality of delivered product / service (Single selection allowed) *
    2.7 Achieving service level agreement(s) (Single selection allowed) *
    2.8 Quality of staff (e.g., experience, competency, professionalism) (Single selection allowed) *
    2.9 Open and effective communication (Single selection allowed) *
    2.10 Invoice provided in a timely manner (Single selection allowed) *
    2.11 Invoice accuracy with sufficient and specific details (Single selection allowed) *
    2.12 Accurate & timely tracking and reporting (e.g., service performance reports) (Single selection allowed) *
    3.1 Have there been any service interruptions (outages causing downtime) in the last quarter? (Single selection allowed) *
    3.2 How many service interruptions have occurred in the last quarter? *
    3.3 What is the total length of downtime of all service interruptions in the last quarter? *
    3.4 Have any service credits been obtained and/or are owed in the last quarter? (Single selection allowed) *
    3.5 What is the total amount of service credits obtained and/or owed in the last quarter? *
    3.6 When thinking about vendor product/service availability and reliability, how satisfied are you with the following:
    3.7 Availability of services relative to availability metrics agreed to in SLAs (Single selection allowed) *
    3.8 Management or resolution of service incident(s) (Single selection allowed) *
    4.1 When thinking about vendor compliance, how strongly do you agree with the following:
    4.2 Vendor efficiently manages customer complaints (Single selection allowed) *
    4.3 Number of customer complaints are trending downward (Single selection allowed) *
    4.4 Recommendations to prevent future complaints are routinely developed and process changes implemented to ensure problems do not reoccur (Single selection allowed) *
    4.5 Quality assurance scores are trending upward (Single selection allowed) *
    4.6 Vendor adheres to Oportun's Customer Complaint policy (Single selection allowed) *
    4.7 Vendor has provided the necessary compliance approved training to their staff (Single selection allowed) *
    5.1 What type(s) of vendor monitoring do you perform? (Multiple selections allowed) *
    5.2 Can you further describe the type of vendor monitoring you currently perform and how often? *
    6.1 Overall, how satisfied are you with this vendor? (Single selection allowed) *
    6.2 Please explain the reason(s) for your rating. *
    6.3 Do you have any other comments or questions?

    Let me know if you have any questions.




  • 6.  RE: Vendor Performance Satisfaction Questionnaire

    Posted 10-27-2023 11:23 AM

    Thank you for sharing @Chandra Bradley! This is great content! Do you send this out via you TPRM platform as a questionnaire or is a tool you came up with on your own? I would like to utilize something similar to this to try to build out our own performance satisfaction survey tool.




  • 7.  RE: Vendor Performance Satisfaction Questionnaire

    This message was posted by a user wishing to remain anonymous
    Posted 10-25-2023 07:00 AM
    This message was posted by a user wishing to remain anonymous

    We use a functional owner performance assessment- this is outside of their monthly performance scorecarding and is done in line with their recertification of due diligence- It permits the users of the vendor to rate the vendor as meets needs, exceeds needs or needs improvement and commentary about what drove the rating with the vendor. Our TPRM will leverage this information as part of the overall review and may even address formally with the vendor if needed as a finding stemming from the review TPRM puts together.  These are also used to drive the decision to commence an exit strategy in some cases if the vendors performance against contractual metrics is not where it needs to be. 

    I hope that helps!