GRMS | Global Risk Management Solutions is the recognized leader in providing global enterprise-wide supplier risk assessment programs of suppliers, contractors and service providers in over 120 countries.
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Through the OMNIA Partners program, members gain access to GRMS’ no cost service solutions and suppliers receive discounted rates. Monitoring supplier risk has never been easier, reducing time and compliance costs for companies worldwide.
Program Highlights
- No cost to OMNIA Partners Members
- Reduce corporate exposure across key risk areas
- All risk data is located on one platform
- Assist in supplier rationalization
- Measurable administrative cost savings
- Consistently check and monitor all suppliers globally
- Gain world class expertise without growing your team
- Protect your brand globally
GRMS Risk Modules
GRMS has created eight primary modules that are comprised of a subset of risk components targeting key areas of supplier risk. Each client can select the modules and/or components which best meets their needs based on factors such as geography, risk and spend.
Digital Insurance Verification (DIV)
The Problem
A certificate of insurance is only proof that at a point in time insurance existed.
Risk Managers, Procurement Departments and others want simple assurance that their Suppliers and other third-parties have valid insurance coverages that meets their requirements and protects them against potential loss.
The age-old method of validating this insurance coverage is to collect a Certificate of Insurance (COI) which is a piece of paper that verifies insurance for the day it was issued. The only way to continuously verify insurance would be to collect a new COI every day.
The Solution
GRMS has built live data integrations between GRMS and the companies providing proof of insurance. Using this technology, GRMS digitally pulls insurance verification data directly from the databases of insurance providers and continuously monitors the data against our client’s requirements essentially eliminating the need to request a Certificate of Insurance (COI).
If the supplier’s insurance provider is a member of our network, our client will have real-time verification of the Supplier's insurance coverage and compliance. The GRMS Veritas platform will immediately alert our clients to any problems, including cancellations or reductions in coverage.
If the supplier insurance data is not yet available through direct connection with their insurance provider, manual (though still digital) verification is facilitated by GRMS.
Currently available in the U.S. and Canada.
Program Benefits:
Health, Safety & Environment
The Problem
HSE is a significant component of Supplier Risk but very difficult and expensive to analyze and manage. Most companies are concerned with reducing HSE risk. How your suppliers, contractors and service providers manage the Health, Safety and Environment of their employees and sub-contractors is a significant exposure in terms of your supplier risk assessment process.
The Solution
GRMS along with a team of safety professionals, have created a comprehensive HSE program that is significantly less expensive and much easier to complete than the Avetta and ISNetworld programs. This new program enhances our existing enterprise-wide supplier risk assessment programs which include Digital Insurance Verification (DIV) and financial stability assessments.
Program Benefits:
Contact Information
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