ProcessUnity Vendor Financial Intelligence (VFI) with RapidRatings, the leading provider of financial health assessments and analytics, seamlessly and automatically incorporates RapidRatings’ Financial Health Ratings into ProcessUnity’s Vendor Risk Management platform for enhanced vendor due diligence, vendor assessments and ongoing monitoring.
RapidRatings’ Financial Health Ratings combined with ProcessUnity’s assessment engine provides continuous insight into the validity of your vendors’ financial health posture and overall risk to your business.
Analysts can monitor third-party financial risk and screening coverage from the VFI dashboard
Financial ratings incorporated into the inherent risk methodology allows for more appropriately scoped onboarding
RapidRatings' financial health information for point-in-time financial reviews
Screening is continuously performed out of the assessment cycle on a nightly schedule
Financially-related issue creation is streamlined from the third-party profile
Vendor Financial Intelligence is built on ProcessUnity’s Best Practices Configuration for Vendor Risk Management – a complete, proven third-party risk program developed by subject matter experts based on hundreds of customer implementations. With built-in integration to RapidRatings’ Financial Health Ratings, VFI gives third-party risk teams a complete Third-Party Risk Management solution that deploys in a matter of weeks.
Third-party risk managers significantly reduce time-to-onboard third parties by identifying relevant, contextual warnings early in cycle and gain a more comprehensive view of a vendor’s financial posture during onboarding via due diligence integrated with financial risk data.
RapidRatings’ Financial Health Ratings provide analysts with clear guidance (on a 0-100 scale) as to the likelihood that a third party will face disruption. The integrated financial ratings factor into inherent risk scoring, resulting in validation and high-quality data for analysis that will aid in key decision-making processes.
The financial lens provided by VFI, coupled with the risk intelligence from the SIG questionnaire, gives analysts a wider view of potential risks for a more thorough vendor evaluation. The streamlined processes also allows for reduced analyst review time and more informed analyst reviews.
Automated workflows immediately notify third-party risk managers of changes in a vendor’s financial posture for continuous, ongoing vendor monitoring. Real-time issue management reduces the time third-party risk managers take in creating, tracking and remediating issues and systematizes the issue creation process to reduce subjectivity.
ProcessUnity Vendor Financial Intelligence combines the industry’s leading third-party risk management platform with the most sophisticated analysis of the financial health of public and private companies worldwide. Download the ProcessUnity Vendor Financial Intelligence datasheet to learn more.
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