- July 28, 2023: Instructions for editing Company Relationship.
- October 19, 2020: “Competitor” relationship type renamed to “Benchmark.”
Company relationships can be defined for companies in a portfolio. Use company relationships to optimize the onboarding workflow by applying the appropriate level of due diligence to a company while they’re being evaluated during onboarding.
Editing a Company Relationship
To edit a company relationship:
- Use the context switcher to select a subsidiary.
- Go to their Company Details page [
Dashboards ➔ Company Details].
- Edit the Company Info panel (you may need to Show Details).
- Select an available Relationship.
- Go to a company's Overview page [
Vendor Risk ➔ Overview].
- Edit the Relationship Details panel.
- Select an available Relationship.
Relationship Types
| Relationship Type | Description |
|---|---|
| Vendor | A supplier of goods or services. |
| Strategic Partner | A business partnership that’s formalized through contracts, but falls short of a legal partnership, agency, or affiliate types of relationship. |
| Fourth Party | A service provider that is a vendor for a company’s third parties. |
| Subsidiary | A company that is within the hierarchy of an organization, as depicted in a Ratings Tree.
A subsidiary in the Bitsight platform (SPM Subsidiary) does not represent a legal subsidiary. |
| Benchmark | A company that supplies goods or services that are similar to your organization. |
| Other | |
| Unassigned | No relationship has been defined. |