Yardi’s Role as a Risk Management Tool

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Given Yardi’s central role in the operations of many businesses, it also needs to provide robust support for risk management. In today’s complex world, software platforms need proactive tools for getting ahead of risks as well as sophisticated defenses against corruption and cyber threats. With the right forethought, setup and configuration Yardi can deliver.

Address transactional risk with VendorShield™ 

Regulatory and contractual compliance has long been a challenge. Today’s trends are only making the compliance picture more complex. Labor models built on outsourcing to vendors with global workforces have rapidly transformed third-party relationships into especially significant sources of risk. Yardi’s VendorShield solution is a good example of how Yardi is not just addressing vendor risk, but helping its customers get ahead of it. 

VendorShield, a component of the Yardi Procure to Pay Suite, provides a rapid, automated suite of tools for keeping tabs on vendors at every level of the organization. VendorShield is the system’s risk management component. It brings together a collection of monitoring tools that keep an eye on a vendor’s insurance coverage, credit rating, and other key metrics. Because the system is automated, staff can stay in sync with their vendors’ risk management profiles without labor-intensive steps. 

Risk management is in Yardi’s DNA.

While VendorShield provides deep-dive tools for managing the risk created by third-party partners, numerous other components of the Yardi platform are designed to protect against risks from many sources. Here are a few examples:

  • By keeping customer data in the cloud, Yardi ensures that databases are stored in compliance with the latest security protocols and tools. Customers don’t need to provide their own security solutions to protect their vital data from attack. 
  • The platform’s extensive customization options ensure that a business’s unique sources of risk, like contingencies built into investor agreements, can be seamlessly incorporated into the platform. Automated alerts, sequenced workflows, and preplanned escalation ensure major risks are caught early.
  • Beyond VendorShield, Yardi offers numerous other tailored solutions for specific use cases. For example, Yardi Resident Screening, a component of the Yardi Multifamily Suite, uses artificial intelligence to rapidly verify the qualifications of rental applicants, while flagging areas of concern to be addressed before offering a lease. 

Today’s Yardi is the result of over 20 years of development and refinement, all directed at addressing the specific challenges facing Yardi’s user community. In particular, Yardi has built its platform to support its customers’ commitment to highly effective risk management.

33Floors reinforces the power of Yardi

With each engagement, 33Floors commits to understanding every aspect of the client’s needs, from the IT infrastructure at the back end to the data needed in the C-suite. Our team’s experience in the same industries as our clients gives us the insight needed to ensure our solutions address each client’s risk management aims. We drive the questions and provide the solutions that augment Yardi’s strengths.

How is your business relying on Yardi for risk management? Do you want it to do more for you? Make an appointment with 33Floors to explore strategies for enhancing your Yardi experience.

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