Third-Party Performance Management Application Overview

This data sheet presents the Aravo Performance Management Application, which focuses on tracking third-party performance to enhance organizational resilience. It outlines how businesses rely on third parties for market reach and operational efficiency, emphasizing the importance of effective performance management. The application optimizes the lifecycle of third-party engagements, covering onboarding, assessment, validation, performance monitoring, and offboarding. By actively monitoring third-party performance, businesses can better anticipate risks and address potential issues proactively. The application allows for the collection and analysis of key performance indicators (KPIs) through various channels, including stakeholder surveys and contract performance assessments. This centralized system enables businesses to evaluate third-party performance trends and implement corrective actions as necessary. The document highlights the necessity for a risk-based approach to third-party management, ensuring that organizations can adapt and maintain resilience in the face of potential disruptions.