📌 Overview
The Business Information section helps you document the nature of your relationship with a supplier and determine how critical the supplier is to your processes. This section is fully customizable and can include:
Inherent risk questions
Informational questions
Supplier’s Business Impact
Additional supplier data
You can access Business Information:
When adding a new supplier
From the Info tab on a supplier page
By hovering over “My Company” → Business Information Fields
✏️ Note: Editing Business Information fields is available only to Admin users in Admin Settings.
🔍 Initial Set-Up
Panorays provides best practice questions to help determine a supplier’s Business Impact (Inherent Risk).
Default fields and a Business Impact Recommendation are included in your account based on your responses.
The recommended Business Impact is calculated automatically depending on your answers to certain questions.
💡 Tip: The Business Impact field may also automate the selection of Relationships for the supplier. For additional information on customizing the inherent risk, please see this article.
✏️ Customizing Business Information
All fields are contextual and fully customizable, allowing you to tailor them to your company’s standards.
To customize or edit these fields, go to:
Company Settings → Business Information
Field Types You Can Include:
Open-ended (free text) questions
Single-choice questions
Multiple-choice questions
Date fields
File upload requests
Categories You Can Include:
Portfolios: Assign suppliers to one or more portfolios
Business Information: Open-ended details such as company size, industry, type of data shared
Evaluation Type: Specify the assessment type
Supplier Contacts: Add primary supplier contacts
Business Owner: Assign an internal responsible owner
Tags: Add tags to categorize or filter suppliers
Admin Capabilities:
Edit question text and answer text
Set Relationships
Correlate questions to Business Impact
Reorder questions by drag & drop
Delete questions
Mark questions as mandatory
❗ Important Considerations
Edits affect the entire company account.
Deleting a field already set for a supplier will delete existing supplier data.
Single-choice and multiple-choice questions:
Answers cannot be deleted after publishing.
Answer order cannot be changed after publishing.
Business Impact and Relationships correlation applies only to future supplier data, not existing data.
Only single-choice or multiple-choice questions can be correlated to Business Impact and Relationships.
Freemium users cannot edit Business Information.
📌 Summary
The Business Information section centralizes supplier data, documents critical details, and supports automated risk assessments. Admin users can fully customize fields, relationships, and correlations to Business Impact, ensuring consistent application of your company’s internal standards.