Business Case
The business case feature allows you to create business cases for a third party relationship. You can assign proposers and approvers for each case. The proposer must complete a customizable questionnaire and upload any relevant documents.
This typically happens at the beginning of the compliance process before any due diligence is ordered and before the third party is officially onboarded. The business case can also kick-off the re-certification process to reaffirm the continued relationship with the third party.
Create a new business case:
- Click on the + icon
- Select or add a capability related to the third party relationship
- Assign a proposer
- Assign an approver
- Allow approval in parallel or in hierarchy
- Set a reminder and save.
Business cases without completed questionnaires:
If a proposer adds a third party through the business case, but does not complete the business case questionnaire, the newly added third party will be classified as Incomplete and sent to Triage.
To permanently remove this issue, simply change the third party’s classification to Aborted.
Completed Business Cases can be marked as 'reviewed' or 'under review'
Matching Industry shared third parties through Business Case
In a business case, a proposer can match their newly added third party and another industry member’s third party as the same entity.
However, you will need to confirm or reject the proposer’s matching decision in the Triage tile. Click “Action” to review the two third parties and finalize the matching decision.
