Third-Party Risk Management Software
ProcessUnity Vendor Risk Management automates the vendor onboarding process, establishing a single, standardized, easily accessible and enterprise-wide process for introducing a potential provider into your vendor database.
Inherent Risk Questionnaires
Automatically classify vendors based on the services provided and their level of data access during vendor onboarding.
Inherent Risk Scoring & Vendor Tiering
Based on the services provided and the level of data access, ProcessUnity VRM automatically determines vendor criticality.
Quickly and easily build vendor self-assessments from a library of questions during vendor onboarding.
Create a Consistent, Reliable Process for Vetting New Vendors
To contract a vendor is to initiate a relationship: when you don’t know who you’re really dealing with, you expose your enterprise to risks that can have enduring consequences. Vendor onboarding helps to understand all the potential risks a provider may bring into your organization. With ProcessUnity Vendor Risk Management, any line of business that requests a new vendor relationship can:
Determine Vendor Criticality And Confidentiality Risk Levels
Not all vendors merit the time and expense of a deep vendor onboarding process. ProcessUnity queries the requestor with targeted vendor risk assessments, focusing the vetting on the two key areas: confidentiality and criticality. By assessing risk, ProcessUnity VRM ensures that vendors with genuine risk potential receive sufficient vetting, without wasting enterprise time and resources on low-risk providers.
Screen For Potential Overlap
During the vendor onboarding process, ProcessUnity VRM assembles all vendor profiles into one consolidated database, alerting requestors to previously established vendor relationships within a given provider category.
Create Relevant Vendor Risk Assessment Question Sets
Traditional spreadsheet-based vetting processes fail to distinguish differences in vendor risk potential, responsibility or activity, often imposing the same set of questions regardless of relevance. ProcessUnity VRM applies category and risk considerations to assemble sets of relevant questions for each vendor, eliminating hundreds of time-wasting queries during vendor onboarding.
Request a Demo: ProcessUnity Vendor Risk Management
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!