Third-Party Risk Management Software
Inherent Risk Scoring & Vendor Classification
One of the initial key steps in vendor onboarding is determining the level of inherent risk, as this determines the depth of due diligence the company must conduct on a vendor. Although all third-party vendors must be onboarded, they do not all merit equal attention. Vendors that provide essential services or hold sensitive data carry a high degree of inherent risk, and must be scrutinized as such.
Inherent Risk Questionnaires
ProcessUnity VRM automates the vendor onboarding and due diligence process.
Vendor Inherent Risk Scoring
Users can easily view inherent risk and residual risk ratings to begin due diligence.
Score Inherent Risk and Determine Critical Vendors, Third Parties & Suppliers
Standardized Inherent Risk Questionnaires
ProcessUnity VRM has built-in simple, standardized questionnaires that helps to determine whether or not the vendor requires deeper due diligence, consisting of a set of internal yes/no questions in which affirmative answers add a pre-defined number of points to a risk score.
Automated Inherent Risk Intake Processes
An intelligent intake process acknowledges differences in third–party risk that merit different degrees of review, prioritizes the vendors who require further investigation and reduces costly and time-consuming analyst input. Intake automation also helps to streamline processes, ensuring that all vendor risk assessments occur at the required level.
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
