Vendor risk assessment is the process of identifying and evaluating potential risks or issues associated with a vendor's operations and services and its potential impact to your renovation project (e.g. Schedule delays).
Large companies uses the same approach to assess new partners and perform a review of them to mitigate these risks and provide a solid foundation for productive relationships.
Over in Reno Hoot,we take the same risk based approach when looking at vendors. We don't just look at the good parts of a company (e.g Reviews, Past Projects), but also on other data points that might raise red flags which might put risk to a renovation project. And this will provide homeowners with a good view of the vendor's dependability.
We've created a new tool that allows anyone to easily review a more holistic profile of any vendor.
Stitching data from multiple reputable sources into a single page, homeowners can quickly find information they require rather than searching the Internet every time; Saving precious time allowing them to focus on more important things.
We've gathered offences and any negative reviews or news about a vendor, listing them in various sections for homeowners to do their research effortlessly.
Last but very importantly, We've also developed a number of automated red flag checks. This will be displayed at the top of each profile search, making it easier and faster for anyone to review and in case they missed these points in their manual review.
So hop over to our Vendor Risk Profile and have a check of your shortlisted vendor(s) now!