Safe Systems’ Vendor Management Document Review: A New Addition to its Comprehensive Third-Party Management Solution Designed for Financial Institutions

ALPHARETTA, Ga.--(BUSINESS WIRE)--Safe Systems, a national provider of fully-compliant IT and security services for community banks and credit unions, is excited to announce its Vendor Management Document Review service.

Vendor Management Document Review is a third-party professional review of related contracts, service level agreements, audit reports, and policies and procedures. It is designed to help financial institutions better understand the details of critical vendor documents and make more informed decisions. This review service is an addition to Safe Systems' Vendor Management web-based solution and is accessed directly through the application for efficiency.

The three types of vendor document reviews include:

1. Contract Reviews: Identify the necessary components of a vendor contract, as outlined by regulatory agencies.
2. Financial Reviews: Determine items in vendor’s financial statements that may indicate the need for extra attention.
3. SOC 2 and Audit Reports: Pinpoint key components and notes in audited reports.

“Third-party management is a critical element of a financial institution's compliance program,” said Darren Bridges, president of Safe Systems. “However, it can be a complex and time-consuming process, especially for community banks and credit unions. The Vendor Management Document Review service provides peace of mind knowing that a compliance expert has reviewed critical vendor documents for necessary requirements.”

For more information on the Safe Systems' Vendor Management Application or the new document review service, please visit www.safesystems.com/it-services-for-community-banks-and-credit-unions/vendor-management/.

About Safe Systems

Founded in 1993, Safe Systems provides IT, compliance and security services exclusively for community banks and credit unions. We believe every financial institution, regardless of size, should be able to leverage the best technology, compliance, and security solutions to serve the financial needs of their community. Our cost-effective services are designed to significantly decrease IT costs, increase performance, and improve compliance posture.