Partner Ecosystem and Demand for Third-Party Risk Management Automation Fuel Third-Straight Record Year
CONCORD, MASS. – January 9, 2018 – ProcessUnity, a leading provider of cloud-based applications for risk management, today announced that it finished 2017 with record revenues, led by demand for its Third-Party Risk Management and Policy & Procedure Management solutions.
ProcessUnity’s 2017 highlights include:
Customer Growth and Retention: ProcessUnity continued to grow its customer base with record sales to organizations of all sizes – as small as community banks and as large as Global 50 corporations. The company experienced increased demand in markets outside of financial services – including legal, retail, high tech, life sciences and more. Additionally, ProcessUnity experienced significant revenue growth via managed services sold through partners. The company maintained its impressive subscription renewal rate of over 94 percent, affirming the ongoing value of its products and services, and high customer satisfaction.
Industry Recognition: Based on Completeness of Vision and Ability to Execute, ProcessUnity was positioned as a Challenger in the June 2017 Gartner Magic Quadrant for IT Vendor Risk Management. Customers are choosing ProcessUnity’s powerful, easy-to-use and quick-to-deploy tools to ensure their success without the hassle of long, complex, high-risk projects.
Major Product Enhancements: With two major platform releases and multiple updates throughout the year, ProcessUnity introduced exciting new capabilities that continue to reduce administrative tasks, make users more efficient and maximize program effectiveness. The Fall 2017 Release alone included more than 70 new features and enhancements, many designed specifically to reduce vendor fatigue in Third-Party Risk Management.
Customer Summit: ProcessUnity held its second Customer Summit to bring together industry leaders and domain experts to discuss the latest trends, share best practices and set future directions for risk and compliance management. The conference featured: 14 customer case studies; partners, including content providers, managed service providers and consultants who demonstrated unique solutions, services, and technologies; pre-conference training courses; and a Third-Party Risk Management Certification program presented by Shared Assessments.
Business Partner Ecosystem: Formal technology partnerships with BitSight, NominoData, RapidRatings, and SecurityScorecard were announced as ProcessUnity continues to offer its customers security and financial ratings within its Third-Party Risk Management solution. Consultants, third-party content providers, and managed service providers further leveraged the platform’s configuration, integration, and reporting capabilities to deliver value to their clients.
“For the third straight year, ProcessUnity demonstrated significant market momentum as we gained a record number of new customers, signed on several of the world’s top brands, deepened existing relationships and received industry accolades for our ability to make our customers successful,” said Sean Cronin, President of ProcessUnity. “This year’s enhancements to our incredibly flexible platform strengthen our ability to meet the growing risk and compliance automation needs of today’s organizations – regardless of industry or size. Our growing partner ecosystem and strong internal team have enabled us to excel this year and position us for continued fast growth and success in 2018.”
ProcessUnity’s suite of cloud-based solutions are designed to tackle numerous Governance, Risk and Compliance challenges, including Third-Party Risk Management, Policy & Procedure Management, Compliance Management and more. While each solution is unique in terms of the capabilities it provides, they all share similar characteristics that greatly benefit our customers: they are extremely easy to use; they are configurable by business users; and they deploy very quickly.
For more information on ProcessUnity, visit www.processunity.com.
ProcessUnity is a leading provider of cloud-based applications for risk management and service delivery 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. For public companies and regulated industries, ProcessUnity Risk Suite delivers effective governance and control, vendor risk mitigation, and regulatory compliance. For benefit plan administrators and other financial service firms, ProcessUnity Offer Management controls complex product offerings and strengthens client service experience. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit www.processunity.com.