Vendor Management

Automate Key Vendor Management Processes to Streamline Your Third-Party Risk Management Program

Building effective vendor management programs presents a number of challenges for risk management professionals. From contract management and service-level agreements to assessing vendor risk and remediating issues, the vendor management process can easily consume a disproportionate amount of time and resources, preventing risk management teams from focusing on higher-priority initiatives.

ProcessUnity Vendor Risk Management enables organizations to simplify vendor management processes through automation. Offered as a Software-as-a-Service (SaaS) solution, ProcessUnity’s platform captures the documentation needed to ensure vendor compliance and fulfill regulatory requirements.

Third-Party Risk Management with Vendor Management Capabilities

ProcessUnity offers affordable, cloud-based risk management solutions that make governance, risk and compliance (GRC) easier and more effective for organizations of any size. Our accessible, quick-to-deploy solution helps to mitigate third-party risk and provides you with powerful vendor management capabilities, including:

  • A vendor service catalog that serves as a central repository of vendor information where organizations can capture critical contract and metric information, key documentation and related risks.
  • Automated assessment tools, including automated questionnaires, that eliminate inefficient paper surveys and spreadsheets. Organizations can use complete assessment content – including sample vendor questionnaires, categorized questions and process workflows – to accelerate their vendor management program.
  • Interactive dashboards and reports that provide real-time visibility into the status of vendor management risks and remediation activities. Dynamic dashboards and reports can also supply documentation to satisfy regulators. Preconfigured reports track critical information, while custom capabilities offer program-level reporting not provided by manual methods.

Benefits: Vendor Management with ProcessUnity Vendor Risk Management

With ProcessUnity, third party risk management professionals can:

  • Simplify end-to-end vendor management processes for organizations, their vendors and regulators.
  • Reduce the cost and complexity of vendor management with easy-to-use tools for onboarding, contracts, due diligence, assessments and service-level management.
  • Minimize operational exposure and losses with management-level reporting.
  • Provide management and regulators with proof of a consistent, reliable and repeatable approach to third-party risk management.