Earlier this year, Avalution and the Catalyst Team released a Surveying module, an enhancement to Catalyst’s world-class program business continuity management platform. This enhanced functionality – offered to our clients at no additional charge – provides a simple, intuitive, and useful method for collecting information from a wide-range of program stakeholders, including non-Catalyst users and even people outside the organization, including third-party supplier representatives.
One of the primary use cases for this module is vendor risk management, with the objective of collecting impact information from the internal supplier relationship owner, as well as business continuity program design and capability-related information from a supplier representative.
Avalution designed the Catalyst Surveying module based on Catalyst’s hallmark user-friendly interface to assist in collecting the information necessary to:
- Identify business continuity requirements via the business impact analysis process;
- Assess and manage risk via the risk assessment and vendor risk processes;
- Collect strategy and plan-related information via the plan documentation process; and
- Collect information for incident response and compliance-related efforts.
Catalyst comes with pre-loaded, commonly-needed surveys for BIA data collection and vendor risk assessment, but the new feature also enables the creation of client-specific surveys in just minutes using an intuitive survey creation wizard.
In the coming months, the new vendor risk component of the Survey feature will fully integrate with Insights Reporting, allowing an end-user to quickly make decisions regarding vendor risk management based on automated summarization.
Some highlights of the Surveying module include the following features and reporting capabilities:
- Create Unlimited Surveys: Pick a topic, create a survey, send it out, and review the results – repeat as many times as you’d like!
- Engage Anyone: Send surveys to Catalyst users, non-Catalyst users in your organization, and even people outside your organization.
- Collect Information: Discrete information to support the BIA process, vendor importance and preparedness, and even information security – build a survey and collect the information you need, and then tie it to any resource or process in Catalyst.
- Leverage The Supplier Owner’s Input in the BIA Module: Ask the owner of the supplier relationship how important the supplier is to the organization and then see those results in the BIA module when the BIA owner establishes a dependency.
- Assess a Supplier’s Program and Use the Information in the Risk Module: Ask a supplier representative about their business continuity program and how it applies to your organization, and then use the information during the risk assessment process.
- Transfer Unacceptable Risks to the Actions Module: Like everything else in Catalyst, when a risk exceeds tolerance, establish a corrective action and work to mitigate the risk.
And coming soon, Vendor Risk Reporting via the industry-leading Insights Reporting module. This new reporting capability will include the Top 10 supplier risks report, summary reporting by impact and likelihood ratings, as well as reporting that aligns supplier relationships to the organization’s products/services.
Interested in learning how the Surveying feature and embedded vendor risk management capabilities can help you improve your business continuity program?
Contact our team here to learn more.
Drew Beavers, Avalution Consulting