Procurement Supplier Risk Assessment Template


• Easy-to-use Excel document.
Examines vendors’ data policies and the necessity of DPIAs.
• Delivers an overall risk rating.
• Ideal for compliance officers and procurement departments.
• Serves as a vital tool in cybersecurity risk assessment for (cloud) services.

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procurement supplier risk assessment template

The procurement supplier risk assessment template is a tool created to evaluate the cybersecurity stance and compliance of (cloud) service providers.

The procurement process, this vendor risk assessment template serves as an instrument for executing thorough vendor risk assessments, thereby ensuring the selection of the most secure and compliant service providers.

In-Depth Security and Risk Management Analysis

At the core of this procurement supplier risk assessment template is an  checklist designed to assess the security infrastructure, risk management processes, and adherence to best practices by the vendor.

It includes encryption and access control methods, making it a comprehensive procurement supplier risk assessment template.


Compliance Impact and GDPR Adherence

A significant feature of this vendor risk assessment questionnaire template is its focus on compliance.

Vendors are required to demonstrate their compliance with laws like GDPR and must have appropriate data processing agreements in place.


Diligence and DPIA Application

This procurement supplier risk assessment template examines the due diligence processes of vendors, including their data retention and destruction policies, and audit trails.

It also acts as a DPIA example to evaluate if a Data Protection Impact Assessment is necessary or already conducted, aligning with data protection regulations.


Reliability Metrics and Business Continuity

The reliability metrics section of the template assesses business continuity plans, ensuring that the vendor has tested and reliable mechanisms for uninterrupted service.

This is crucial for organizations relying on continuous services.


Risk Rating System and Commentary Fields

Each question in the template comes with a risk rating, allowing assessors to quantify the risk associated with each response, culminating in a color-coded visual risk map.

Commentary fields provide context and justifications for these risk ratings, offering a comprehensive understanding of each assessment.


Actionable End Results: Overall Risk Rating

The final section of the template synthesizes all collected data to present an overall risk rating and recommendations for proceeding with the vendor.

This actionable end result is a crucial feature that aids decision-making.


Benefits of Using the Template

  • Holistic Assessment: The template’s comprehensive approach addresses all aspects of vendor risk.
  • Customization: Available in an editable Excel format, allowing for personalization.
  • Clarity and Efficiency: Its clear layout and defined sections streamline the data collection process.
  • Comprehensive Coverage: Ensures a wide spectrum of security and compliance topics are covered.


Ideal Users of the Template

  • Organizations conducting vendor risk assessments for (cloud) service providers.
  • Compliance officers overseeing cybersecurity regulations.
  • Procurement departments evaluating the security postures of potential suppliers.

The procurement supplier risk assessment template is an essential asset for any organization looking to secure and vet (cloud) service providers comprehensively. Its design, coupled with its focus on security, compliance, and risk management, makes it an excellent tool in the field of cybersecurity risk assessment.

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