Get an Overview of the Market IQ Suite and how it can enhance your Vendor/Risk Management Processes
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Estimated Read Time: 6 minutes
Summary/Brief
Our Market IQ Suite offers you sophisticated and up-to-date insights into the Risks associated with your vendors, centralised within your Gatekeeper's Vendor Repository.
The below article will highlight the insights and automations you can leverage to improve the way you manage risk to save time & avoid mistakes when overseeing your vendor relationships.
Sections in this Article:
Vendor Onboarding & Due Diligence
Vendor Onboarding & Due Diligence
ESG 🌳
Pre-built Due Diligence Assessment Forms
Automated Refresher Assessments
Market IQ Financial 🏦
What is it?
This module allows you to connect your Vendors to external Risk Assessment & Monitoring platform 
Creditsafe, providing you with live data insights directly in your Gatekeeper Vendor Repository.
With your vendors connected to Market IQ Financial, you can leverage the live market data to gain better risk insights, improve your Vendor Onboarding & Risk assessments and put your ongoing Risk Monitoring on autopilot, without having to leave Gatekeeper.
Improving your Vendor Onboarding 👨💼
Part of your Vendor Onboarding Due Diligence could include checking the financial health of a vendor and assessing any associated risk this presents to their (& your) operations.
With Market IQ Financial, you can connect your vendors to Creditsafe in Gatekeeper during a Vendor Onboarding Workflow to:
a) Provide you with immediate summary data pertaining to the Vendor's financial risk
b) Use this data to automate the inclusion/bypassing of additional manual Financial reviews & approvals
Providing a Financial Risk Dashboard 📈
Once you have connected your Vendors to Creditsafe, Gatekeeper will provide you with live summary data directly within your vendor records. This data automatically updates whenever Creditsafe detects a change in risk scores.
Therefore, every time you view a vendor's dashboard data, you will see the current up-to-date risk ratings
Pictured: A Vendor Market IQ Tab (with a link to the specific Vendor Record in Creditsafe)
Pictured: Creating a new Saved View to show Financial Risk values across multiple Vendors
Automating Ongoing Monitoring of Financial Risk ⚙️
Once you've performed the initial Vendor Risk checks using the Creditsafe data, you can set up an Automated ("Triggered") workflow to monitor for changes in the risk level of a vendor.
Follow-up Guides 📚
Market IQ Finance - Data Feed Summary
Market IQ Finance - How to interpret a Credit Report
Using Market IQ Financial on Workflows
Market IQ Cyber 💻
What is it?
Like Market IQ Financial, Market IQ Cyber pulls data from 
SecurityScorecard, the global leader in cybersecurity ratings and the only service with over 12 million companies continuously rated.
Gatekeeper pulls data from the SecurityScorecard platform as an easy-to-understand A-F Grade and 0-100 Score to rate companies on their overall security across 10 major risk factors.
NB. The below features/benefits are similar to the above Market IQ Financial
However, this module monitors Cybersecurity risk (so you can assess the likelihood of data breaches or loss of service) rather than Financial risk
Improving your Onboarding & Due Diligence Checks 🧑💻
(Similar to with Market IQ Financial) you can use Market IQ Cyber to connect your vendors to 
Security Scorecard including the Cyber Risk data in workflow forms.
With these connected Vendors included in your workflows, you can use this Cyber Risk data for conditional reviews & approvals according to Risk scores that you might deem "acceptable"
Similar to the ⬆️ above video walkthrough ⬆️ for Market IQ Financial in Vendor Onboarding, Vendors can be connected to Market IQ Cyber via workflows and the Cyber Score/Grades can be used for conditional reviews & approvals!
Providing a Cyber Risk Dashboard 📈
Once you have connected your Vendors to Security Scorecard, Gatekeeper will provide you with live summary data directly within your vendor records. This data automatically updates whenever Security Scorecard detects a change in risk scores.
Therefore, every time you view a Vendor's dashboard data, you will see the current up-to-date risk ratings.
Pictured: A Vendor's Market IQ Dashboard with the Cyber tab selected
Pictured: Creating a new Saved View to show Cyber Risk values across multiple Vendors
Using a saved view in this way can also be an easy method to find any vendors you have not connected to the Market IQ yet - highlighted by the "?" where a Score should be!
Automating Ongoing Monitoring of Cyber Risk ⚙️
Once you've performed the initial Vendor Risk checks using the Security Scorecard data, you can set up an Automated ("Triggered") workflow to monitor for changes in the risk level of a vendor.
Similar to the ⬆️ above video walkthrough ⬆️ for Market IQ Financial Monitoring, Gatekeeper will automatically initiate risk assessments based on changes automatically detected by the Market IQ module.
Pictured: The 2 workflows dedicated to the automated monitoring of Financial/Cybersecurity Risks
MIQ Screen ☑️
What is it?
Market IQ Screen is another arm of the Creditsafe integration - Creditsafe Protect
With Market IQ Screen connected for your vendor, you will be able to follow a link to the Creditsafe page where you can run compliance checks for any Risks in categories such as:
- PEP
- Sanctions
- Financial Regulations
- Law enforcements
- Disqualified Directors
- Insolvencies
- Adverse media
Follow-up Guides 📚
ESG 🌳
With the growing importance of ESG, our ESG solution allows you to Assess & Track the environmental impact of your Vendors.
This section of the MIQ Suite will grant you a Template workflow for the assessment (and re-assessment) of your Vendors.
With this workflow in place, you will be able to report at scale the impact of your organisation's operations as well as assess the importance being attributed to ESG by your Vendors, including a performance-over-time consideration (with Scored Forms).
💡 We have specifically designed the process to be able to run in parallel with your existing Vendor Onboarding & Due Diligence activities, so you don't need to worry about this slowing down your execution lead times
Improving your Onboarding & Due Diligence Checks ✅
With our ESG best practice workflow, you can collect key data & documentation from your vendors while completing your other necessary initial due diligence assessments
ESG Data views 📈
Custom Data Tabs
It is possible to set up and organise the ESG data captured via the workflow form into a segmented tab within vendor records
Pictured: The view from a Vendor record showing the completed ESG Form Data stored in a Custom Tab separate to the standard "Data" tab
Saved Views
Having followed the steps necessary to view the ESG data in the Vendor data tabs, you can also view this across multiple vendors by creating a Saved View.
Pictured: Adding ESG Data Columns to the Vendor Repository view to assess multiple assessments in one view
Coming Soon - Scored Forms
With a Custom Tab configured as shown above, it will soon be possible to compare re-assessments performed by your Vendors to assess their ESG Scores over time, allowing you to track performance & (hopefully) improvements to your key partners
Automating Refreshers Assessments ⚙️
Once set up, you can use the same "Onboarding" ESG Assessment workflow to automatically perform follow-up reviews so that:
a) You are saved from using out-of-date information
b) You can assess changes in this data over time to view performance/progress in your Vendor-base
More information on setting up this re-assessment can be found in the Best Practice Template guide (below) as well as the Dynamic Dates Expert Guide
Pictured: The Status/Date fields Gatekeeper will automatically set to indicate & start processes for ESG Assessments
Follow-up Guides 📚
Market IQ Lite
With the Lite version of our Market IQ modules, we offer some of the basic data provided by the Market IQ Financial & Market IQ Cyber Modules available within your Vendor records
"Basic" data here means:
Financial:
Risk Description
Credit Limit ($ Dollar Value)
Cyber:
Risk Description
Pictured: the Combined Market IQ Dashboard Tab with the Lite data only
With the Lite module versions, Gatekeeper can present and automatically update the above data points for Vendors you connect to the module
However, this data can not be leveraged in the same ways
✅ Market IQ Data will be visible from the Market IQ tab on Vendor Records
✅ Market IQ Data will automatically change with updates from Creditsafe/Security Scorecard
❌ Market IQ data will not be visible in Repository views
❌ Market IQ data cannot be added to/used in Workflow forms
❌ Market IQ data cannot be used to trigger Workflows warnings/assessments
❌ Market IQ data cannot be included in Workflow notification emails
❌ Market IQ Financial will not store a Credit report in your Vendor Files tabs