CONCORD, MASS. – November 14, 2018 – ProcessUnity, a leading provider of cloud-based applications for risk and compliance management, today announced that it received the highest scores in two use cases in Gartner’s “Critical Capabilities for IT Vendor Risk Management” report. The report, written by Gartner analyst Christopher Ambrose, evaluates the capabilities of 11 Vendor Risk Management software providers and delivers product ratings and scores of key capabilities across “critical differentiating usage scenarios.”
Gartner’s research examines the ability of Vendor Risk Management software solutions to address three use cases that are based on the delivery requirements most often expressed by Gartner clients. ProcessUnity received the highest score for two use cases, “Vendor Risk Management Solution” and “Vendor Risk Management Solution and Services.”
“ProcessUnity’s goal is to eliminate the ‘busy work’ that plagues Vendor Risk Management programs and to help organizations large and small assess their vendor populations more effectively and efficiently,” said Ed Thomas, Vice President of Marketing at ProcessUnity. “We believe receiving the highest scores in two use cases affirms our position as the market leader based on the technical strength of our solution and the overwhelmingly positive references from our customers.”
In the report, Ambrose notes that “Vendor risk management continues to increase in importance and relevance as vendor risk management leaders look for ways to improve their programs for responding to regulations and reducing residual vendor risks.” Gartner states that companies looking to create a risk management program should “Prioritize [their] critical requirements and align them with the critical capabilities of a VRM solution, ensuring that [their] selection is adaptable and scalable to [their] immediate and evolving VRM program needs.”
ProcessUnity’s Software-as-a-Service (SaaS) VRM application, Vendor Cloud, identifies and remediates risks posed by third-party service providers. The cloud-based solution automates key phases of the vendor risk management lifecycle from initial onboarding and due diligence, through ongoing assessments, service-level agreements (SLAs) and contract management.
For more information on ProcessUnity’s Third-Party Risk Management automation solutions, visit www.processunity.com.
* Source reference: Gartner, Inc., “Critical Capabilities for IT Vendor Risk Management,” 12 Nov 2018., ID: G00343815, Analyst: Ambrose, Christopher
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