Turn TPRM Data Challenges into Opportunities
Managing an effective Third-Party Risk Management (TPRM) program is a significant challenge for any organization. As your network of third-party vendors grows, so do the complexities of assessing and mitigating risks. With countless service providers to evaluate and limited resources at your disposal, keeping up with ongoing pre- and post-contract risk assessments can feel like an uphill battle. Instead of being bogged down by the demands of managing third-party risks, empower your team with time-saving data that streamlines your program.
Reduce Assessment Work, Extend Your Coverage
The ProcessUnity Global Risk Exchange provides you with a streamlined, standardized and comprehensive view of your risk landscape
so your team can:
Reduce Assessment Work
Ingest attested and validated assessments to drastically reduce the time and effort involved in conducting risk assessments.
Assess Hard-to-Assess Vendors
Our vast library of risk assessments includes those for vendors that may be challenging to assess independently.
Monitor All of Your Third Parties
Automated Risk Profiles keep tabs on third parties your team doesn’t have time to assess.
The ProcessUnity Global Risk Exchange: Assessment Data to Extend Your Team
The ProcessUnity Global Risk Exchange is the world’s largest library of third-party risk management data. Our customers access completed vendor assessments and curated vendor risk profiles to reduce assessment work and ultimately experience a:
Global Risk Exchange Highlights
Request completed and validated assessments from more than 80% of the world’s largest and most requested third parties.
Leverage our curated Automated Risk Profiles to keep tabs on lower-risk third parties you don’t have time to assess.
Instantly tier your entire vendor portfolio based on their importance to business operations and the risk they bring to your company.
Combine the Global Risk Exchange with our powerful TPRM Platform for a complete, end-to-end TPRM solution.
Relevant Data & Powerful Insights to Extend to Your Team
Assess Hard-to-Assess Vendors
The Global Risk Exchange library features more than 18,000 assessments including large, hard-to-assess third parties that typically don’t respond to assessment requests. This vast array of accessible evaluations not only accelerates the TPRM lifecycle but also enhances its efficacy. By providing detailed insights into third-party risks, the Exchange eliminates the time-consuming and complex task of having to individually assess each third party.
Validated third parties in the Global Risk Exchange include:
- 80% of Fortune 1000 companies
- 4 of the top 5 cloud providers
- 12 of the top 20 law firms
- 4 of the top 5 private equity firms
- The top 4 accounting firms
Monitor 100% of Your Third-Party Ecosystem
The Global Risk Exchange further extends your team’s capabilities with automated risk profiles for more than 360,000 global third parties. These profiles, built using intelligent algorithms and data science, enable you to foresee potential vulnerabilities and risks, encouraging proactive mitigation strategies.
This expansive coverage is equal to a vast virtual team relentlessly monitoring your entire vendor ecosystem. It eliminates the traditional challenges associated with managing many third-party relationships, optimizing your team’s efficiency, and providing a broader, more in-depth understanding of your organization’s risk landscape.
Extend Your TPRM Platform with Global Risk Exchange
Extend the power of the ProcessUnity TPRM Platform with a subscription to the Global Risk Exchange, the world’s largest database of third-party risk assessments and curated risk profiles. Tap into our library of more than 18,000 attested assessments and 360,000 vendor profiles to reduce your team’s assessment workload while gaining access to assessment data from large, hard-to-assess third parties that typically don’t respond to your questionnaire requests.
Calculate Your Potential Savings with ProcessUnity
Build a business case to uplevel your Third-Party Risk Management program. Answer a few short questions and generate your custom savings report.
Calculate Your ROI Now
Resources and Insights
Top 5 Features to look for in a TPRM Tool That Help...
Third-party vendor breaches are escalating at an alarming rate. In 2023, 61% of organizations reported experiencing..
High Stakes, Higher Costs: The Rising Impact of Third-Party Breaches in Financial...
As third-party ecosystems grow, so do the risks — and financial institutions are paying the price...
The Ultimate Guide to Managing the Third-Party Risk Management Lifecycle
Third-party risk is growing—and so is the pressure on teams to assess, monitor, and manage hundreds..
The Evidence Overload Problem: Why Third-Party Risk Management Teams Are Drowning in...
In third-party risk management (TPRM), evidence documentation is everything. It’s how third parties prove they have..
ProcessUnity Evidence Evaluator: AI-Based Third-Party Controls Validation
See how ProcessUnity’s GenAI-powered feature simplifies third-party risk assessments. In just 60 seconds, discover how Evidence..
How to Close Your Third-Party Risk Vulnerability Gap
Is your organization exposed to hidden third-party risks that could create dangerous blind spots in your..
Next Steps:
Schedule a ProcessUnity Platform Demo
Our team is here to show you how forward-thinking organizations are elevating their
Third-Party Risk Management programs and practices to maximize risk reduction. Start
your journey with ProcessUnity today.
Frequently Asked Questions
A third-party risk assessment is the process of evaluating a third party’s potential risk to the business across areas such as cybersecurity, regulatory compliance, and operational practices to ensure they align with your organization’s standards.
The five phases of third-party risk management are:
- Planning and Scoping – Identify critical third parties and define risk management goals.
- Due Diligence and Selection – Assess third-party risk before onboarding.
- Contract Negotiation – Set clear expectations for compliance, security, and performance.
- Ongoing Monitoring – Continuously assess third-party risk and performance.
- Termination and Transition – Manage offboarding with plans for continuity and compliance.
A third-party risk assessment exchange contains validated risk assessments, completed questionnaires, vendor risk profiles, and supporting documentation. It provides fast, reliable access to third-party risk data, even for hard-to-reach third parties, and accelerates risk decision-making.
Monitoring third-party risk involves continuous assessments, integration of external risk data, real-time alerts, and regular third-party performance reviews to identify and address emerging threats proactively.
Here’s how to perform a third-party risk assessment:
- Define the scope and objectives of your assessment based on the third party’s inherent risk levels.
- Gather third-party information through tailored questionnaires.
- Leverage a third-party risk assessment library to systematically evaluate and verify specific risk areas.
- Analyze assessment results to identify potential vulnerabilities.
- Develop targeted remediation plans to address identified risks.
- Document the process for future reference and compliance purposes.