Industry-Standard Assessment Combined with Powerful Automation Tools Enhance Vendor Risk Management Speed and Efficiency
CONCORD, MASS. – April 4, 2018 – ProcessUnity, a leading provider of cloud-based applications for risk management, today announced it has updated its support for the Shared Assessments Standard Information Gathering (“SIG”) questionnaire to include the 2018 version. Seamlessly incorporating the SIG into ProcessUnity’s Vendor Cloud application increases speed, consistency, and efficiency in Vendor Risk Management assessments for cybersecurity, IT risk, privacy, data security and business resiliency.
“Vendor risk managers are continuously looking for ways to improve assessment accuracy, shorten response times and increase the number of vendor responses within their VRM programs,” said Todd Boehler, Vice President of Product Strategy at ProcessUnity. “The SIG questionnaire provides a fast, rigorous, efficient and less costly way to develop an assessment and helps to reduce the burden on third and fourth parties by allowing them to answer the questions once and repurpose them for additional assessments. Combining a standardized assessment with ProcessUnity’s powerful automation – for distributing, tracking and scoring these assessments – reduces the time and cost associated with the due diligence process, reduces busy work and frees teams to do more with existing staff.”
Shared Assessments is a member-driven, industry-standard body with tools and best practices that help organizations manage the full lifecycle of a third-party relationship, from planning for third party engagement, to due diligence and vendor selection, contract negotiations, ongoing and continuous monitoring and termination. The SIG questionnaire provides an inventory of industry standard questions for the remote assessment process that allows an organization to scope initial assessment information regarding a service provider’s controls.
ProcessUnity Vendor Cloud is a Software-as-a-Service (SaaS) application that 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. (Click here to watch the five-minute Vendor Cloud demo.)
For more information on ProcessUnity, visit www.processunity.com or stop by the ProcessUnity booth at the 11th Annual Shared Assessments Summit April 11-12 in Arlington, Virginia.
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.