Establish the supplier record
Record the contracting entity, services, internal owner, materiality assessment and relevant subcontractor information.
Keep supplier information current and unresolved issues visible.
Lexa brings supplier records and supporting documents into the same workspace as the business services they support. Owners can see which records require review, which requests remain open and where an issue affects more than one service.
THE WORK YOUR TEAM MANAGES
Third-party oversight
Procurement, Legal, IT and Operations each hold part of the supplier record. A risk assessment becomes difficult to maintain when contract details, service dependencies and assurance documents are not reviewed together.
Materiality and supplier risk decisions require review. Reporting formats and submission responsibilities are confirmed for the firm’s applicable requirements.
WORKING IN LEXA
How the workflow operates
Maintain supporting records
Link contracts, assurance reports, continuity and exit documents with their review dates and responsible people.
Manage oversight
Assign follow-up requests, record assessments and escalate overdue actions through the agreed review process.
RECORDS AND OUTPUTS
What the workspace maintains
- Supplier and arrangement registers
- Contracts and assurance documents
- Service and subcontractor dependencies
- Review decisions and follow-up actions
SHARED PRODUCT CAPABILITIES
Use the same records
across your reviews.
Ownership, document history, actions and approvals are shared platform capabilities. A record can support more than one regulatory workflow while retaining its original source and review history.