Vendor Onboarding
Reduce Vendor Onboarding Cycle Times
Streamline the pre-contract due diligence process and onboard new third parties faster while keeping risk out of your organization.
Stop Being a Roadblock: Implement an Efficient Vendor Onboarding Process
Vendor onboarding should support your business by vetting new vendors without delaying operations. As you scale, your onboarding process needs to quickly validate that new vendors meet your organization’s information security, operational resiliency and performance standards, all within the shortest possible timeframe to keep your lines of business on track.
As you continue to outsource more business operations to external vendors, you need more efficient onboarding processes to properly vet new business partners in the shortest possible timeframe to keep your lines of business on track.
Reduce Onboarding Cycle Times by 85% with ProcessUnity
ProcessUnity’s TPRM Platform and Global Risk Exchange give you and your team powerful automation and targeted data to measurably reduce the time it takes to onboard and begin using a new vendor. With ProcessUnity, you increase confidence in your pre-contract due diligence results while significantly reducing your cycle times.
Whitepaper
Conducting Pre-Contract Vendor Due Diligence
Streamline Vendor Onboarding with Automated Due Diligence
Auto-Scope Pre-Contract Due Diligence Based on Inherent Risk
By adding an Inherent Risk Questionnaire (IRQ) to your new vendor request process, you can easily tier third parties based on the nature of the service provided, the data being shared and more. Don’t have time to complete an IRQ for every vendor? Access inherent risk scores from more than 360,000 curated vendor risk profiles in the Global Risk Exchange. Based on the inherent risk tier, ProcessUnity automatically scopes a due diligence questionnaire to ensure your team asks the appropriate questions to properly vet the vendor. Learn more about our inherent risk capabilities.
Complete Assessment Questionnaires
ProcessUnity’s powerful assessment engine delivers questionnaires to third parties via a secure online portal. Your vendors log in and complete the assessment with options to delegate questions to other contacts and upload supporting documentation on a question-by-question basis. Your team can monitor real-time completion process via interactive dashboards and reports. Upon submission from the third party, ProcessUnity automatically scores the results based on pre-determined preferred responses. With tools for your team as well as your vendors, ProcessUnity significantly shortens the due diligence timeline.
Access a Library of Completed Third-Party Assessments
Tap into the world’s largest database of third-party risk assessment information. ProcessUnity’s Global Risk Exchange features more than 18,000 attested vendor risk assessments that your team can access and eliminate up to 80% of its assessment workload. Our library includes hard-to-assess companies including 80% of the Fortune 1000, the top cloud providers, and more. Use our assessments in place of doing the work yourself or use them as a starting point to narrow the scope of your questionnaires. Either way, we save your team significant time.
Our Platform Solutions
Automate the complete third-party risk lifecycle, from initial onboarding to ongoing monitoring, with the industry’s most configurable workflow platform.
Learn MoreAccess the industry’s most extensive network of pre-validated vendor assessments and real-time risk intelligence. Our exchange platform enables organizations to make faster, more informed decisions using shared risk data, eliminating redundant assessments and providing deeper insights into potential vulnerabilities across your vendor ecosystem.
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Frequently Asked Questions
Third-party onboarding is the process of evaluating and integrating new third parties into your operational ecosystem, ensuring they meet your organization’s risk standards prior to engagement.
The best vendor onboarding software automates workflows, centralizes data, accelerates onboarding, and scales to meet your business’s needs, using AI throughout the process to speed up decision making and reduce human error. ProcessUnity’s TPRM Platform achieves this, reducing cycle times by up to 85% and acting as an AI-powered force multiplier for teams with limited resources.
The vendor onboarding process includes evaluating a third party’s inherent risk, conducting internal and external due diligence assessments, and gathering essential documentation to ensure alignment with your compliance and business goals.
Vendor vetting is the due diligence performed before engaging a third party to confirm their security controls, operations, financial health, and compliance posture meet your organization’s standards.