Vendor Risk Management Software
Vendor Risk Management
ProcessUnity for Vendor Risk Management (VRM) protects companies and their brands by reducing risk posed by vendors with close ties to information technology and cybersecurity. Our vendor risk management tools help customers effectively and efficiently assess and monitor both new and existing vendors – from initial onboarding to ongoing due diligence and monitoring.
With ProcessUnity, you gain visibility into new and existing risks, streamline due diligence processes, and ensure compliance with regulatory requirements. Our solution empowers you to proactively manage vendor risks and protect your organization from potential cyber threats and business disruptions.
Automate the Vendor Risk Lifecycle
- Pre-Contract
- Post Contract
- Platform Capabilities
Vendor Onboarding
Automate the vendor onboarding process, establishing a single, standardized, easily accessible and enterprise-wide process for introducing a service provider into your vendor database.
Vendor OnboardingPre-Contract Due Diligence
Identify potential risks and evaluate vendors before entering into contracts to ensure they meet business and regulatory requirements.
Pre-Contract Due DiligenceRisk Domain Screening
Proactively screen vendors against a variety of risk domains, such as financial stability and security, to effectively manage vendor risks and avoid costly disruptions.
Risk Domain ScreeningSourcing / RFx
Make the source-to-contract process more efficient by executing RFx processes, performing initial due diligence and driving the awarded vendor through initial onboarding.
Sourcing / RFxContinuous Vendor Monitoring
Establish an objective post-contract cadence to proactively monitor vendor activities and detect potential risks in real-time.
Continuous Vendor MonitoringVendor Performance Management
Maintain a common platform, accessible to all authorized parties, on which they compare vendor performance against established service level agreements (SLAs).
Vendor Performance ManagementIssue Management
Gain step-by-step control to document and record issues, assign responsibilities, track progress on actions and status, and produce reports for appropriate stakeholders.
Issue ManagementPost-Contract Due Diligence
Implement a simplified, automated and efficient vendor risk vendor assessment process for your internal vendor risk analysts and your vendors, suppliers and fourth parties.
Post-Contract Due DiligenceNo-Code Configuration
Easily add features and functionality without relying on service engagements. The ProcessUnity Platform is 100% configurable by the end user, meaning that you don't have to wait weeks for the changes you need to meet program demands.
No-Code ConfigurationHands-Free Automation
Automate everything from assessment scoping to evidence collection with the click of a button. Hands-Free Automation runs critical workflows in the background, so that you can execute on impactful risk reduction.
Hands-Free AutomationEnterprise Integration
Seamlessly integrate with key enterprise systems or external content providers through a robust web services-based API.
Enterprise IntegrationReporting-as-a-Service
Provide stakeholders with the data that matters to them in seconds. Reporting-as-a-Service rapidly generates meaningful, board-ready reports that demonstrate the value of your program.
Reporting-as-a-ServiceVendor Risk Management Features & Benefits
Powerful Vendor Risk Assessment Tools
ProcessUnity has revolutionized vendor risk assessment by replacing surveys and spreadsheets with intelligent questionnaires. Our platform eliminates inefficiencies by automatically determining the scope of assessments based on inherent risk scores and vendor criticality tiers. Preferred responses score vendor submissions in real-time, identifying areas that need attention.
Our built-in content library and support for importing custom methodologies, including Standard Information Gathering (SIG Lite and SIG Core) questionnaires from Shared Assessments, provide flexibility for vendor risk teams. Third and fourth parties can complete assessments through our secure online portal, with delegation capabilities to multiple contacts and the option to attach supporting documentation.
By streamlining the assessment process, organizations can more thoroughly vet vendors, improving the quality of responses while reducing vendor fatigue. With ProcessUnity, you can transform your vendor risk assessment process and make it more efficient and effective.
Reporting-as-a-Service
ProcessUnity offers a comprehensive solution for managing vendor risks in real-time. Our platform provides continuous monitoring of vendor risks to ensure compliance with varying regulatory requirements. With interactive dashboards, executives and risk managers can easily track ongoing risk assessments, remediation activities and vendor ratings.
Our drill-down capabilities enable quick identification of areas of concern, while extensive custom reporting options allow for the creation of role-specific reports and dashboards. Our user-friendly point-and-click interface makes it easy to generate program-level reports that manual methods cannot match.
By using ProcessUnity, organizations can demonstrate the existence of a consistent, reliable, and repeatable vendor risk management program to regulators and stakeholders. Gain real-time visibility into your vendor risks with ProcessUnity.
Pre-configured reports track critical vendor and service-risk information, including:
- Vendor Criticality
- Vendor Assessment Status
- Assessment Findings
- Issues
- Requests
- Action Items
- Contract Review Status
- Risk by Geographic Location
- Compliance Ratings
Integration with Cybersecurity Ratings, Financial Health Scores & External Expert Content
ProcessUnity offers industry-vetted content and pre-built connectors to cybersecurity rating tools, financial health metrics, watch lists, negative news feeds, and more.
Our platform’s advanced features also enable vendor risk teams to receive alerts on any critical changes in vendors’ financial or cybersecurity health, allowing for timely intervention and action. With ProcessUnity, you can proactively manage vendor risks and stay ahead of emerging threats in your supply chain.
Learn more about ProcessUnity’s pre-built connectors that can enhance and augment Vendor Risk Management programs.
Flexible Deployment Options + Unparalleled Configuration = Future-Proof Deployments
ProcessUnity for Vendor Risk Management is designed to support organizations of all sizes and program maturity levels. Our platform offers pre-built, out-of-the-box Best Practices Configuration for vendor risk, making it easy for smaller vendor risk teams to quickly deploy a complete program based on hundreds of successful customer deployments. For larger organizations with more complex requirements, ProcessUnity’s unparalleled configurability enables them to implement a program that is fully customized to their specifications.
Regardless of the deployment approach, our customers have the flexibility to modify their implementation as their programs evolve over time, future-proofing their Vendor Risk Management investment.
Request a Demo: ProcessUnity Vendor Risk Management
Hundreds of organizations worldwide rely on ProcessUnity to make Vendor Risk Risk Management more effective and efficient. Schedule your personalized demo of our award-winning software and start your journey to a more mature, automated vendor risk management program today!
Request a Demo: ProcessUnity Vendor Risk Management
