The impacts of corruption can be very severe and have been historically well documented. On a political level, corruption – however and wherever it manifests itself – stands in the way of order, the rule of law, and democratic principles and redirects investment into the hands of corrupt officials.
Perhaps these effects and impacts may seem distant or too abstract when an organization is seeking to close an important contract. But bribery and corruption are not victimless crimes or “just the way business is done in certain parts of the globe.” Bribery and corruption come with serious consequences for the organization and its operations.
In today’s hyper-connected and media-driven world, it can be a serious challenge for an organization to come back from certain mistakes. Reports and charges of bribery and corruption are near the top of this list, but nevertheless, we continually see incident after incident in organizations all over the world being tied up in bribery and corruption charges. These instances are far too common and destructive. The current pandemic has increased the exposure of bribery and corruption, and as the world opens up there will be more exposure in the competition for new contracts.
Consequences result in material adverse effects on the business, annual and interim results of operations, additional incurred costs, cash flows, and financial condition. Possible outcomes also include reputational damage, which could hurt revenue growth via client loss/limited client wins, fines, lawsuits and potential limits on operations in certain areas.
Consider This:
- The German engineering company, Siemens, paid a fine of $1.6 billion dollars to settle bribery charges made by U.S. and European authorities. The company was charged with paying out more than a billion dollars in bribes to win contracts around the world.
“Employees obtained large amounts of cash from Siemens cash desks. Employees sometimes carried that cash in suitcases across international borders to pay bribes,” Linda Thomsen, SEC director of enforcement, stated at a press conference during the scandal.
- A year ago, Airbus paid a record fine of almost $4 billion after reaching a plea bargain on a bribery and corruption scandal that had lasted over a decade.
The company ran an extensive bribery program with a reported budget of up to 250-300 million euros. Authorities in France, the United Kingdom, and the United States charged the aircraft manufacturing giant with using third-party partners to bribe government officials.
- Latvia’s central bank chief had recently appeared in court to account for charges of corruption and accepting bribery payments in the form of cash and vacations.
The scandal is the first corruption trial of a European Central Bank (ECB) governor and has caused damage to the image of Europe’s central bank.
As a result, organizations are increasingly revamping their efforts to take a strong stance on anti-bribery and anti-corruption (ABAC). Many organizations are attempting to further drive effectiveness and efficiency in anti-bribery and anti-corruption programs by implementing a technology architecture and framework for risk and compliance management throughout the extended enterprise.
A successful ABAC program requires the organization to provide an integrated process, information, and technology architecture. This helps to identify, analyze, manage, and monitor ABAC, as well as capture changes in the organization’s risk profile from internal and external events as they occur. Mature ABAC management should be a seamless part of the organization and its operations.
Anti-Bribery & Anti-Corruption Regulation
Anti-bribery and anti-corruption compliance and risk management is continually one of the main challenges that organizations are confronted with. All over the world more and more countries have instituted serious regulations cracking down on bribery and corruption, implementing more sophisticated means to combat corruption with aggressive enforcement and cooperation between different regulatory and law enforcement bodies. In addition, more countries are introducing individual criminal liability for bribery-related offenses.
Some of the most prominent regulations regarding anti-bribery and corruption include but are not limited to:
Organization for Economic Co-operation and Development (OECD) Anti-Bribery and Corruption – The OECD Anti-Bribery Convention establishes legal standards to combat bribery of foreign public officials in international business transactions. The OECD is the only international anti-corruption mandate focused on the ‘supply side’ of ABAC.
Foreign Corrupt Practices Act (FCPA) – The Foreign Corrupt Practices Act (FCPA) is a US law that prohibits American companies and individuals from paying bribes to foreign officials in business deals and contracts. FCPA contains two main articles that focus on anti-bribery provisions, as well as the records and internal controls in the organizations accounting practices.
United Kingdom (UK) Bribery Act – Passed by the British Parliament in 2010, the Bribery Act criminalized bribery, the bribing of foreign government representatives and the failure by private companies to prevent corruption. It also made it an offense to be bribed. The act applies to UK citizens, residents and companies and organizations that are incorporated in the UK, or that conduct business in the UK—granting similar extraterritorial privileges as the FCPA.
Sapin II – The French National Assembly passed Sapin II to usher in a new era of ABC in the country. Sapin II is largely aligned with other major ABAC regulations around the world, such as FCPA and the UK Bribery Act.
Best Practices for Managing ABAC and Third-Party Risk
When entering into an outsourcing arrangement or working with third parties, it is imperative that there is a screening process that validate that the third–party can fulfill the obligations and requirements of the relationship and also ensure that they will not introduce unwarranted risk and compliance exposure. High-risk relationships need to be evaluated against defined criteria to determine if the relationship should be established or avoided. This should include:
- Know who you are doing business with
- Conduct database checks. This includes collecting general information on a third-party during the onboarding process, and then screening this information against law enforcement watchlists, sanctions list, and a list of politically exposed persons in many situations and regions.
- Initial due diligence. This involves both database checks as well as initial assessment through a questionnaire to the third-party before the relationship is finalized.
- Assessment questionnaires. This involves a survey format for assessment questions that the third party has to answer and provide attestations to their business practices. In this context, the practices related to anti-bribery and anti-corruption. The assessment questions should be attested to be a signature of a principal of the third-party.
- Ongoing due diligence. This is the ongoing and continuous monitoring of the relationship throughout its lifecycle. Just because a third party might have been cleared to do business with during the initial screening, over time that relationship and the risk of bribery and corruption it brings may change. Ongoing database checks as well as periodic assessment questionnaires (e.g., annually) should be conducted.
The Dynamic Nature of Business
Modern business has drastically changed over the years. An organization’s operations are often scattered and distributed throughout different locations, departments, and relationships. Now organizations are also supporting an extensive work–from–home program, and many plan on keeping it for the foreseeable future. In this pandemic the risk of bribery and corruption has risen and will continue to rise coming out of the pandemic as organizations compete for limited contracts and services.
Suppliers, employees, vendors, consultants/contractors, and their underlying operations all need to be monitored and tracked to ensure the organization is aligned with compliance obligations and can manage risk effectively. Many within this web may not even be traditional employees but they still carry the same potential compliance risk exposure for the organization.
In a time of crisis, such as the current global pandemic, standards and codes of conduct are increasingly important. In our current environment, business is uncertain, most work is being done remotely while supply chains are being stretched thin.
A mature ABAC program will understand the requirements of this time of crisis, enforcing controls across third parties and employees working at home, meeting international industry standards, and any other applicable regulation to the organization. This is key in building a consistent and effective compliance and ethics framework for your organization, especially in times of crisis.
To learn more about ProcessUnity and how you can monitor ABAC in your third parties contact us today.
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GRC 20/20 Quantifies Return on Investment...
Independent research examines the measurable benefits of ProcessUnity VRM Imagine what business results you could..
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CyberGRX Use Case Guide
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CyberGRX Named Winner In 10th Annual...
CyberGRX recognized as Hot Company in the Third-Party Cyber Risk Management (TPCRM) category for its..
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CyberGRX and Google Cloud Collaborate to...
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How an Exchange Supports an Effective...
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Building a TPCRM Program: Where to...
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How Common Are Third-Party Security Breaches?
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Cyberattacks and Breaches can Severely Damage...
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CyberGRX recognized by EMA as a...
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3 Questions Healthcare Organizations Should Consider...
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Mapping Assessments Across Standard Frameworks More...
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ProcessUnity is a Leader in the...
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Can You Apply Zero-Trust to Your...
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CyberGRX Redefines Third Party Cyber Risk...
Company experiences three-digit customer and revenue growth in Q1 alone; brings first-of-its-kind features to market..
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Webinar: Cyber Risk Intelligence and the...
Register & attend this session as we explore: Third-party cyber risk management vs self-assessments Cyber..
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The ONE Thing All Modern Third-Party...
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Managing the Security Risks in Third-Party...
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Why Third-Party Risk Management Saves Businesses...
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How Remote Work Has Changed On-Site...
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Are Your Suppliers Putting You at...
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Recorded Future Third-Party Threat Intelligence Insights
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CyberGRX Product Guide
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3 Third-Party Risk Lessons from the...
Proactively mitigate third-party risks with vendor engagement and issue response strategies Lapsus$, a criminal hacking..
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The 6 Most Common Third-Party Security...
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Protecting Your Network From the Increased...
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Why You Need Total Transparency with...
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Social Engineering: How to Not Be...
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Leveraging Predictive Risk Profiles for Greater...
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Understanding Your Cybersecurity Risks During the...
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War in Ukraine: Monitoring Resiliency in...
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5 Areas to Mitigate Risk in...
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Beyond Risk Management: How Cyber Risk...
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Are You Ready for the PRA's...
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Why Retailers Need Cyber Risk Intelligence...
The retail industry is one of the biggest contributors to the Gross Domestic Product (GDP)..
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How to Improve Your Vendor Due...
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3 Reasons to Align Cybersecurity and...
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Log4j: How Organizations Address Cybersecurity with...
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Log4j Vulnerability: A Lesson in Third...
A vulnerability was recently detected in Log4j, an open-source logging framework web developers use to..
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Log4Shell and Threat Profiles
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Log4Shell and Third-Party Vendors: How Will...
With the whole world losing their marbles over the Apache Log4Shell vulnerability (and rightfully so),..
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The Difference Between Third-Party Cyber Risk...
Major security incidents have shed light on the cyber risks associated with third-party suppliers and..
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How To Create a Results-Driven Supplier...
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2021 and Beyond: Financial Viability Trends...
Experts from ProcessUnity and RapidRatings recently got together to discuss why world-class third-party risk management programs are leveraging financial health ratings for onboarding, due..
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5 Easy Ways to Increase Your...
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How Predictive Analytics Will Keep You...
The GDPR Threat With the Information Commissioner's Office's (ICO) ever increasingly active enforcement of the..
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4 Reasons to Manage Cybersecurity Controls...
The modern cybersecurity program faces more challenges today than ever before. New worldwide directives and increased cyberattacks put pressure..
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Predictive Risk Profiles Data Sheet
Predictive Risk Profiles from CyberGRX revolutionize the approach to third-party cyber risk management. By applying..
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5 Tips to Improve Your Vendor...
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How Dynamic Scoping Can Improve Your...
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Third-Party Vendor Risk Management Challenges for...
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Build a Better Vendor Due Diligence...
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3 Steps to Better Vendor Risk...
Creating and distributing vendor risk assessments is a key part of any third-party risk management program. As organizations utilize third-party services to..
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Expert Interview: Continuous Monitoring of Third-Party...
ProcessUnity discusses best practices for continuous monitoring of third-party vendor risk with BitSight, a leading..
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Managing Third-Party Cyber Risk
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Why Organizations Automate Vendor Risk Assessments
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ISACA Summit Replay: Cybersecurity is an...
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CyberGRX vs. Competitors: A Comparison Chart
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Inherent Risk vs. Residual Risk in...
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ProcessUnity Team Kicks Off National Day...
On August 20th, 2021, ProcessUnity hosted its inaugural Day of Giving to provide our team with the..
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UK PRA Guidelines: New Strategies for...
It goes without saying that operational resiliency and supplier risk management go hand in hand. Organizations need to adapt, respond to, and..
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What the Biden Administration's Executive Order...
The Biden Administration is prioritizing the nation’s cybersecurity with an executive order to modernize cybersecurity defenses and protect..
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Ransomware & Your Third Parties: A...
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Introducing Enhanced Portfolio Management Features
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How to Create a Mature Third-Party...
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What is Third-Party Risk Management?
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ESG Reporting Mandates to Know for...
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Ransomware Vendor Ecosystem Visibility Report
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7 of the Most Notable Ransomware...
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Diversity and Inclusion as a Third-Party...
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The Evolution of Ransomware
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What is Fourth Party Risk and...
As we’ve seen in recent events such as the SolarWinds hack, third-party risk poses a serious threat to business continuity. What the..
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CyberGRX Ransomware Threat Profile & Ecosystem...
In order to fight ransomware, companies need a methodology that combines a wide range of..
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Exchanges, GRC Tools, and Risk Scans:...
It’s like comparing apples to baseball stadiums: If you are (or will be) evaluating solutions..
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Supplier Risk Management Strategies for Healthcare...
The COVID-19 pandemic served as a wake-up call for supplier risk management programs globally. Formerly reliable..
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REvil’s Reign: Kaseya VSA Ransomware Supply...
Recently, thousands of Kaseya VSA servers were exploited using a malicious update payload. Bypassing access..
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The Next Kaseya Breach is Around...
While the July 4th weekend meant celebrating the United States’ Independence Day holiday for some,..
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Setting Up A Cybersecurity Assessment Schedule
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Risk Assessment Methodology Data Sheet
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Managing a Cybersecurity Budget: Where to...
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The Impact of NERC and FERC...
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Your Cybersecurity Budget is a Top...
Cybersecurity is recognized as an increasingly important annual budget spend, with many organizations declaring their cybersecurity..
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Anatomy of a Third-Party Data Breach
According to research done by the Ponemon Institute, third-parties are involved in over half of..
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Why Vendor Risk Management is Essential...
Third-Party Risk in Healthcare When it comes to vendor risk management in healthcare, regulators increasingly..
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Cybersecurity Analytics: Integration With the MITRE...
Deriving insights from a cybersecurity assessment requires the structure of real-world threat narratives. Companies in..
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The Benefits of a Centralized Cybersecurity...
Implementing a centralized Cybersecurity Program Management platform can pay dividends for your organization by protecting high-value..
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Do You Really Know Who Your...
Money laundering; bribery and corruption; drug trafficking; and terrorism financing are issues that are rapidly infiltrating business operations. In recent years,..
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3 Secrets to Building a Winning...
Did you know third-party breaches account for over half of all data breaches in the..
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Attack Scenario Analytics: A Datasheet Reference
The MITRE ATT&CK framework has become a global standard for analyzing tactics and techniques used..
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Expert Tips for Setting up a...
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Vendor Risk Management & ESG Related...
The Emerging Importance of ESG-Related Risk Environmental, social, and governance (ESG) and its role in vendor..
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CyberGRX Partners with Recorded Future to...
We're excited to announce we've formed a strategic partnership with Recorded Future, the world’s largest..
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What’s the Difference? Vendor Risk vs...
The words are frequently used interchangeably. Is there a difference between them? The Basics of Third Party..
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The Intersection of Third-Party Risk and...
According to a recent BlueVoyant, Opinion Matters global study of 1,500 CISOs, CIOs, and CPOs, 29 percent say they have..
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Solarwinds Hack: The Intersection of Cybersecurity...
The continuing fallout from the SolarWinds hack is creating a mashup of Cybersecurity Program Management stuffed..
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The Cyber Info Exchange Episode 7:...
The world of technology and security covers a magnitude of critical topics in all things..
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Cybersecurity Accountability Requires Enterprise-Wide Involvement
Cybersecurity is every employee’s responsibility. To ensure success, organizations today need to weave cybersecurity accountability into the..
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8 Key Reports You Need for...
The foundation for an effective vendor risk program starts with solid reporting. As your vendor..
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Stay Ahead of the Cybersecurity Threat...
Understanding today’s ever-evolving cybersecurity threat landscape is essential for developing strategies and taking action to..
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Checklist: TPCRM in the Retail Industry
The CyberGRX platform brings visibility, scalability, and accuracy to third-party cyber risk management programs (TPCRM)..
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Stop Wondering if You're Compliant: The...
Regulations and compliance requirements are constantly changing, and this can make it challenging to efficiently maintain compliance...
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Tips for Quantifying Inherent Risk for...
Quantifying inherent risk for third parties is one of the most important aspects of a..
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The Cyber Info Exchange Episode 6:...
The world of technology and security covers a magnitude of critical topics in all things..
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What Is Third-Party Risk Management: The...
The recent SolarWinds breach has reminded news organizations, businesses, and leadership teams around the world..
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The Importance of a Flexible Cybersecurity...
It goes without saying: Your cybersecurity threat landscape is continually evolving, and new risks emerge each day. Trends..
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EBA Guidelines and Supplier Risk Management
Today’s distributed, business environment is defined by third-party relationships. The boundaries of the organization have..
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How to Stop the Next SolarWinds...
The SolarWinds breach, while incredibly serious, is a flash in the pan brought upon by..
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Reporting on the State of Your...
The CISO’s Role and Cybersecurity Program Evolution As the role of the CISO changes and..
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Cybersecurity Risk has Changed the Chief...
In the past, the Chief Information Officer (CIO) was responsible for all things technology, but..
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How to Address The Top Third-Party...
Third-party risk management, or TPRM, is a critical part of keeping your company’s and customers’..
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What is a Cybersecurity Framework?
A cybersecurity framework is the foundation on which your program is built. It documents the..
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8 Benefits of Completing a CyberGRX...
CyberGRX modernizes and streamlines redundant and inefficient processes that come with shared and static..
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Are Third-Party Cloud Applications Putting Your...
In May of 2017, it was discovered that an exposed data repository, an AWS S3..
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Third-Party Risk Management Best Practices
New Guide Offers Expert Advice for Effective and Efficient Vendor-Risk Processes A robust, effective, and..
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Blackstone ROI One-Pager
Contact us today CyberGRX’s platform has helped Blackstone create a more efficient third-party risk management..
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QBE ROI One-Pager
When they determined the number of third-party cyber risk assessments they’d be doing was going..
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Blackstone Case Study
With a rapidly growing business that includes a robust vendor ecosystem and portfolio of companies,..
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TPCRM 101 Guidebook
In the cyber sphere, NIST, ISO, AICPA, and DHS are among the multiple organizations that..
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Gartner Names ProcessUnity a Leader in...
The title says it all – Gartner has again recognized ProcessUnity as a Leader in..
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Why Vendor Risk Management Should Be...
As the severity and cost of data breaches continues to increase, Vendor Risk Management has never been..
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What is Data Privacy and How...
The General Data Protection Regulation (GDPR) brought data privacy issues to the doorstep of organizations..
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The Evolution of the Third-Party Due...
To compete in today’s marketplace, companies routinely engage third parties to provide all manner of..
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QBE: Improving Oversight of Third Parties...
As a major insurer operating in 27 countries, QBE has a large vendor footprint and..
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Procurement or Information Security: Who Owns...
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Auto Inherent Risk Data Sheet
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Compliance Week Recognizes Abercrombie & Fitch’s...
Congratulations to Rob Seibel, Director of Legal Compliance at Abercrombie & Fitch Co., for receiving..
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7 Security Controls You Need For...
It’s no secret that data protection and security has become a hot topic in recent..
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Revolutionizing Third Party Risk: How to...
Despite their best efforts to administer an efficient and effective process, many organizations spend an..
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Pandemic Questionnaire Guidance & Vendor Assessment...
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The Cyber Info Exchange Episode 5:...
The world of technology and security covers a magnitude of critical topics in all things..
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The Cyber Info Exchange Episode 4:...
The world of technology and security covers a magnitude of critical topics in all things..
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ComplySci ROI One-Pager
By proactively sharing their CyberGRX assessment, ComplySci has cut down the time they spend filling..
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How Third-Party Risk Management Can Help...
This post originally appeared on LinkedIn. To view the original article, click here. We understand the..
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How to Spot Your Riskiest Vendors:...
Maintaining strong relationships with third parties is critical to business success. Yet too often, does..
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Third-Party Risk Management: From A to...
Just as the mind, body and spirit are intertwined, there are several interconnected pillars to..
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APRA CPS 234: Everything You Need...
The Office of the Australian Information Commissioner reported that there were over 950 data breaches..
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Metrics to Avoid When Discussing Cybersecurity...
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2019 Was A Banner Year for...
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Outside-In Scanning Is Not Cyber Risk...
Risk management is fairly straight-forward as a strategic concept but is complicated by a myriad..
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ProcessUnity Scores Highest in Gartner 2019...
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CPG Case Study
With an extensive portfolio of third-parties, a leading CPG company needed a streamlined third-party cyber..
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ProcessUnity Positioned as a Leader in...
We have great news. Today, Gartner published the 2019 Magic Quadrant for IT Vendor Risk..
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What the European Banking Authority Guidelines...
Using the European Banking Authority (EBA) guidelines to streamline your supplier risk management program Simply..
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Solix Case Study
Solix Shares the CyberGRX Assessment Driving Business and Saving Time One Assessment For All After..
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The Latest CCPA Update: Amendments to...
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Why Your Third-Party Risk Management Program...
The vast majority of people get annual physical examinations and automotive tune-ups – why shouldn’t..
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How To Improve Your Third-Party Inherent...
More than two-thirds of companies are cutting corners when it comes to third-party due diligence..
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The Latest Retail Breaches: Third-Party Data...
Third-party data breaches have been dominating the headlines in 2019, with a lot of the..
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CCPA and GDPR Compliance for IT...
For many of us that work in IT Fields, the requirements of privacy bills like..
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Sarbanes-Oxley Compliance: Five Steps to Cleaning...
While Sarbanes-Oxley (SOX) compliance management may be old hat for some, organizations today continue to..
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CyberGRX Enriches Third-Party Cyber Risk Management...
CyberGRX Auto Inherent Risk Automates a Time-Consuming, but Critical Step, Bringing Immediate and Valuable Insights..
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Hey Third Parties! Here's How to...
If you have a partner that trusts you with their business – and therefore, data..
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Tips for Preparing For Your Third-Party...
Being the target of a cybersecurity assessment can be frightening. Cybersecurity covers a broad set..
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How Financial Ratings and Cybersecurity Scores...
RapidRatings, Security Scorecard and BitSight Enhance Vendor Risk Management Process As a standalone solution, ProcessUnity’s..
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Poll: Over Half of Risk Managers...
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First GDPR, Now CCPA: Manage Your...
One year ago, organizations of all sizes were scrambling to comply with the pervasive General..
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Essential Technical Security Controls to Promote...
One of the most impactful regulations in the U.S. is the Health Insurance Portability and..
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Evaluating Third-Party Risk Management Software? Speed...
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It’s a Wrap: Four Takeaways from...
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Creating a Third-Party Cyber Risk Management...
I’ve spent almost 30 years in the IT security space and half of that engaged..
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Cyber Risk: What is it and...
Cyber risk is a hot topic these days, and rightfully so. By 2025, Gartner estimates that “45%..
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The Cost of Third-Party Cybersecurity Risk...
Third parties are inundated with assessments and enterprises aren't getting the insights they need -..
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Trust, But Validate: Building Confidence in...
Overview Security assessments come in all shapes and sizes. Some have tightly defined scopes and..
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How ComplySci Spends Less Time on...
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How Blackstone Assessed 3x More Vendors...
Blackstone Assesses 3x More Vendors CyberGRX Is A Force Multiplier for Third-Party Cyber Risk Management..
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5 Reasons to Share Your CyberGRX...
One of the greatest benefits of having a CyberGRX assessment on the Exchange is the..
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5 Reasons to Accept a CyberGRX...
A partner wants to share a CyberGRX assessment with you, why should you accept? Step..
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Third-Party Management Maturity Model White Paper:...
ProcessUnity’s recent white paper, the “Third-Party Risk Management Maturity Model,” helps you understand where your..
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New Gartner Report: Evaluates Capabilities and...
Gartner Research recently published The 2018 Critical Capabilities for IT Vendor Risk Management, and we are extremely excited..
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Technology Case Study
After a technology company doubled the size of their vendor ecosystem, they sought to secure..
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Third-Party Risk: Reduce Vendor Fatigue &...
You’ve likely heard before that “one size does not fit all” when it comes to..
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ComplySci Case Study
ComplySci Proactively Shares CyberGRX Helps ComplySci Reduce Time Spent on Assessments with Proactive Sharing Proactive..
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New Report Predicts Significant Market Growth
MarketsandMarkets has published a new report that states that the global Vendor Risk Management market..
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Vendor Onboarding Best Practices: ProcessUnity Webinar...
Vendor Onboarding Best Practices: To contract a vendor is to initiate a relationship: when you..
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Think GDPR (General Data Protection Regulation)...
Do you collect, store or process EU citizen or resident data? Does anyone in your..
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Risk & Compliance – The Build...
We’re not seeing it as much as we used to, but some companies are still..
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Incorporating Content Services into Your Vendor...
Companies are continually searching for ways to improve the quality of their third-party risk due..
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Regulatory and Management Reporting for Vendor...
In working with prospects and customers, one of the questions I get asked the most..
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SLAs and Vendor Performance Management
Not all business relationships require a service-level agreement (SLA), but good vendor performance management is..
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Formalizing Vendor Risk Management - Keep...
When starting to build a formal Vendor Risk Management program, it’s important not to overcomplicate..
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Six Tips for Building Effective Vendor...
A well-designed vendor risk assessment questionnaire is vital for a successful Vendor Risk Management program...
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The 2017 State of Third Party...
How does your program rate? Take the Third-Party Risk Management survey and find out! There..
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eBook: 8 Reports for Effective and...
The foundation for an effective and efficient Vendor Risk Management program is solid reporting. The..
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The Top Policy and Procedure Management...
Corporate policies – from HR guidelines to pricing rules -- set the standards, outline the..
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How to Stay Ahead of Risk...
Managing risk through pre-contract vendor due diligence in a digitally connected world Thanks to increasing..
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Mitigating the CFPB Audit Process
In the mortgage industry, the potential for an audit by the Consumer Financial Protection Bureau..
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Why Cloud Works for Third-Party Risk...
If you are running a Vendor Risk Management program, odds are that you either have:..
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The Hidden Costs of Spreadsheets in...
While spreadsheets are a widely-accepted go-to for compliance and risk management activities, findings from Blue..
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The State of Third-Party Risk Management
Today, organizations are bombarded by new regulatory guidance, daily occurrences of cybercrime and data breaches,..
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45-Minute Executive Web Clinic: Offer Management...
You’ve probably heard: The sky is falling in the benefits industry. (Or should we say..
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FFIEC Cybersecurity Assessment Tool: What You...
Cybercrime is a hot topic among GRC practitioners these days. It should be. According to..
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Case Study: Offer Management Revitalizes a...
A large Benefits Provider was facing major customer service and implementation challenges. The company provides..
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Change Your SOX: Next-Gen Sarbanes-Oxley Compliance
It’s been more than a decade since Sarbanes-Oxley became the law of the land—and..
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Introducing ProcessUnity’s Summer 2015 Release
Salesforce and Microsoft Office Integrations, plus a Whole New Look! The ProcessUnity Summer 2015 product..
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Channel Your Inner Regulator to Improve...
If you are like most banks and financial service companies, then chances are you outsource..
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Five Keys to Conducting Effective Vendor...
Risk exposure is indiscriminate. Whether you are a large multinational, a non-profit institution, an agency..
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A Roadmap for Implementing Product and...
“Benefit plan providers are turning to Offer Management initiatives and systems to reduce risk, cost..
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Plan Providers: Use Offer Management to...
In today’s intensely competitive benefit plan market, getting your teams aligned creates a dramatic competitive..
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Does Your Pre-Contract Due Diligence Leave...
Today’s global, digital economy opens up a world of opportunities—and a whole new world of..
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Welcome to the ProcessUnity Blog
On behalf of the ProcessUnity team, I am excited to welcome you to the new..
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ProcessUnity is a leading provider of cloud-based applications for risk and compliance management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. Headquartered outside of Boston, Massachusetts, ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. For more information, visit www.processunity.com.