Third-Party Risk Management Software

Vendor Risk Management

ProcessUnity Vendor Risk Management (VRM) protects companies and their brands by reducing risk from third parties, vendors and suppliers. Our third-party risk management tools help customers effectively and efficiently assess and monitor both new and existing vendors – from initial onboarding to ongoing due diligence and monitoring.

Third-Party Risk Management Software Dashboard

Features & Benefits

Vendor Onboarding

Automate the vendor onboarding process, establishing a single, standardized, easily accessible and enterprise-wide process for introducing a service provider into your vendor database.

Vendor Onboarding

Post-Contract Vendor Monitoring

Implement a simplified, automated and efficient third-party risk vendor assessment process for your internal third-party risk analysts and your vendors, suppliers and fourth parties.

Vendor Due Diligence & Ongoing Monitoring

Vendor Performance Reviews

Track service-level agreements and consolidate vendor performance reviews into a consistent, manageable third-party risk management process that ensures visibility over the lifespan of the service relationship.

SLAs & Vendor Performance Management

Sourcing / RFx Support

Make the source-to-contract process more efficient by executing RFx processes, performing initial due diligence and driving the awarded vendor through initial onboarding.

Sourcing (RFx)

Vendor Assessment Questionnaires

Streamline pre- and post-contract vendor due diligence with built in tools for scoping and scheduling assessments; tracking and scoring responses; and identifying and remediating issues.

Vendor Risk Assessments

Vendor Classification / Inherent Risk Scoring

Automatically tier vendors based on configurable inherent risk questionnaires and scoring; use inherent risk to scope vendor risk assessments and determine due diligence frequency.

Inherent Risk Scoring & Vendor Classification

Vendor Intelligence Suite

Seamlessly incorporate cybersecurity ratings, financial health scores, ESG data and more into vendor risk reviews to confirm assessment responses and monitor third parties in between periodic due diligence.

Vendor Intelligence Suite

Integration & Connectors

Simplify integrations and connections to internal systems and external expert content including ERP platforms, procurement applications and other governance, risk and compliance systems.

Integration & Connectors

ProcessUnity is a Leader in the 2022 Forrester Wave™ for Third-Party Risk Management Platforms

Third-Party Risk Management Report

ProcessUnity is a Leader in The Forrester Wave Third-Party Risk Management Platforms with the top score in the Current Offering category. Download a complimentary copy of the Wave to learn why.

Read the Full Report
Forrester Wave for Third-Party Risk Management Platforms 2022

Effective & Efficient Third-Party Risk Management

Powerful Assessment Tools

Intelligent questionnaires put an end to inefficient surveys and spreadsheets and simplify the assessment process for both organizations and their partners. Inherent risk scores and vendor criticality tiers automatically determine the assessment scope. Preferred responses score vendor submissions in real-time, identifying issues and highlighting where vendor risk managers should focus their time.

Third-party risk teams can leverage ProcessUnity’s built-in assessment content – which includes hundreds of categorized questions and process workflows – or, they can easily import their existing content and methodologies. Organizations can also take advantage of ProcessUnity’s integration with the Standard Information Gathering questionnaires (SIG Lite and SIG Core) from Shared Assessments.

Third and fourth parties complete assessment questionnaires via a secure, online portal. Vendors provide answers to a variety of question types and can easily attach policies and supporting documentation on a question-by-question basis. Delegation capabilities allow vendors to distribute questions to multiple contacts in their organization and SIG integration provides the ability to upload a completed questionnaire with a single click.

ProcessUnity Vendor Risk Management significantly streamlines the third-party risk assessment process for both customers and their vendors, allowing organizations to vet more vendors, more thoroughly, while reducing vendor fatigue and improving response quality.

Four Keys to a Vendor Risk Management Program That Works

Interactive Dashboards & Reports

ProcessUnity provides real-time visibility into the state of third-party risk and demonstrates to executives and regulators the existence of a consistent, reliable and repeatable program. Interactive dashboards give management visibility into ongoing risk assessment progress, the status of remediation activity and vendor ratings. Drill-down capabilities allow risk managers to quickly find the details in areas of concern.

Extensive custom reporting capabilities allow risk managers to create role-specific reports and dashboards through ProcessUnity’s point-and-click interface. With ProcessUnity, organizations gain program-level reporting that manual methods simply cannot provide.

Pre-configured reports track critical vendor and service-risk information, including:

  • Vendor Criticality
  • Vendor Assessment Status
  • Assessment Findings
  • Issues
  • Document Requests
  • Action Items
  • Contract Review Status
  • Risk by Geographic Location
  • Compliance Ratings
Integration with Cybersecurity Ratings, Financial Health Scores & External Expert Content

Third-party risk teams can incorporate industry-vetted content to augment initial vendor assessments and to signal potential issues in between periodic due diligence. With a variety of pre-built connectors to cybersecurity rating tools, financial health metrics, watch lists, negative news feeds and more, ProcessUnity provides customers with additional insights into vendor preparedness, stability and performance.

Learn more about ProcessUnity’s pre-built connectors that can enhance and augment Third-Party Risk Management programs.

Flexible Deployment Options + Unparalleled Configuration = Future-Proof Deployments

ProcessUnity Vendor Risk Management supports organizations of all sizes and program maturity. Our pre-built, out-of-the-box Best Practices Configuration offers smaller vendor risk teams a quick-to-deploy, complete program based on hundreds of successful customer deployments. Organizations with the most demanding and complex requirements can take advantage of ProcessUnity’s unparalleled configurability to implement a program that 100% matches their specifications.

No matter how ProcessUnity is deployed, customers always have the flexibility to make changes to their implementation as their programs change and mature over time, future-proofing their Vendor Risk Management investment.

Hundreds of organizations worldwide rely on ProcessUnity VRM to make Third-Party Risk Management more effective and efficient. Schedule your personalized demo of our award-winning software and start your journey to a more mature, automated vendor risk management program today!

Request a Demo: ProcessUnity Vendor Risk Management

Third-Party Risk Management Software Demonstration