ProcessUnity Updates Intelligent Risk and Compliance Platform with Unparalleled Configurability
4 minute read
June 2019
Flexible, Powerful Automation Makes Risk and Compliance Programs More Effective and Efficient
CONCORD, MASS. – June 27, 2019 – ProcessUnity, a leading provider of cloud-based applications for risk and compliance management, today launched the latest version of its Risk and Compliance platform. The new release extends ProcessUnity’s unparalleled configurability and flexibility while adding intelligent capabilities to make users more effective and efficient.
“No two risk and compliance programs are the same, every organization runs their program their way, and every program changes over time,” said Rich Gottesman, Vice President of Product Management, ProcessUnity. “That’s why each ProcessUnity platform release introduces more configurability options to support the ever-changing regulatory landscape that includes GDPR, APRA, CCPA, OCC, EBA, NYDFS and the SEC.”
ProcessUnity’s new platform release includes nearly 100 new features and enhancements specific to automation and workflow, end-user productivity and system administration. Highlights include:
- Enhanced Automation and Workflow reduces cycle times for risk functions to support business requests through more targeted automated actions. Workflow capabilities give organizations the ability to quickly and easily adjust processes with fewer clicks. New features specific to custom buttons allow companies to create pop-up forms, dynamic confirmation messages, drop-down menus and more. Intelligent Actions execute workflow steps and criteria automatically based on decision flows and customer-defined events.
- Increased End-User Productivity capabilities provide status transparency within workflow requests, enabling users to quickly and easily complete their risk and compliance tasks. A new end-user inbox adds a configurable dashboard panel, automated clean-up and enhanced search and filtering. Reporting enhancements include additional geographic maps, report instructions/descriptions and the ability to transpose rows to columns for comparison-style reporting.
- Streamlined Administration reduces the total cost of ownership for Third-Party Risk Management, Cybersecurity, end-to-end Supplier Management and Integrated Risk Management programs. Administration updates help companies accelerate system changes, and bulk property updates allow changes to multiple system fields at the same time without IT involvement. The updated business rules engine also adds search and filtering capabilities to quickly find properties, columns, functions and operators when creating calculated fields.
“The goal is to allow our customers to make adjustments to their programs without having to call IT or reimplement their programs through expensive upgrade projects like other legacy technologies require. We’re giving them more features, functions, and flexibility to evolve their ProcessUnity implementation themselves as regulations change and their program matures,” added Gottesman.
New Platform Update Includes Enhancements to ProcessUnity’s
Industry-Recognized Third-Party Risk Management Module
Recent research from Ernst & Young says 30 percent of organizations have experienced a third-party breach within the past two years. More and more organizations today rely on ProcessUnity’s Third-Party Risk Management software to identify and remediate risks posed by third-party service providers.
ProcessUnity’s latest platform release features numerous new capabilities and enhancements specific to Third-Party Risk:
- Advanced Questionnaire Delegation reduces vendor fatigue and assessment response times. Delegation provides a formal facility for third-party contacts to assign specific questions to others in their organization, improving the quality of due diligence and assessment responses.
- Updated Vendor Contract Management capabilities extend ProcessUnity’s data model to support the creation, approvals, renewals, and monitoring of vendor contracts, including agreements and terms.
- More External Content Connectors and SIG 2019 Integration extend ProcessUnity’s support for external vendor content and ratings, providing customers a more holistic view into their vendor populations. An update to the SIG Connector adds support for the 2019 questionnaire.
- Concentration Risk Enhancements add custom vendor objects to allow customers to extend their vendor data model to support processes including Fourth-Party Risk, Financial Risk, Geographic Risk and more.
Leading organizations rely on ProcessUnity’s governance, risk and compliance solutions to assess, measure and mitigate risk, and ensure the optimal performance of key business processes. As cloud-based technology, ProcessUnity deploys quickly with minimal effort from customers and their IT resources. Product enhancements are installed frequently, immediately, and automatically, and require no work from the customer. The inherent efficiency of the platform delivers faster, better results, and the ability to scale governance, risk, and compliance programs over time.
For more information on ProcessUnity’s cloud-based risk management solutions, visit https://www.processunity.com.
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About ProcessUnity
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 https://www.processunity.com.
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Learn MoreAbout Us
ProcessUnity is a leading provider of cloud-based applications for risk and compliance 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. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. Headquartered outside of Boston, Massachusetts, ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. For more information, visit www.processunity.com.