Vendor Identity Intelligence is comprised of six components: ProcessUnity Vendor Risk Management platform, D&B’s D-UN-S Search, D&B’s Beneficial Owner Search, the ProcessUnity D&B D-U-N-S Search Connector, the ProcessUnity D&B Beneficial Owner Connector and a combination of pre-built workflows, notifications, reports and dashboards to power vendor due diligence, third-party assessments, issue tracking and remediation and ongoing monitoring processes.
D&B’s D-U-N-S Search uses input criteria to find the best candidates in its extensive database of business entities. It uses a proprietary algorithm to identify the best matches and returns relevant matches with detailed information about what criteria was used to find the match. The D-U-N-S Search follows the below three steps:
- Cleanse, parse and standardize
- Retrieve candidates
- Evaluate and decide
D&B’s Beneficial Ownership List identifies both vendors and individuals and indicates their relationship to the specified D-U-N-S Number to identify an organization’s Ultimate Beneficial Owners (UBOs). ProcessUnity’s connectors seamlessly integrate D&B’s D-U-N-S Search and Beneficial Owner Search by passing parameters from ProcessUnity to Dun & Bradstreet. The connector presents lists of the best matches within the ProcessUnity platform, eliminating the need to access multiple applications or manually look for information on each entity. To automate intelligence and add objectivity into the onboarding and continuous monitoring processes, this information from D&B is incorporated into search grids to help inform third-party managers of the best candidate to select. Third-party risk managers can then select the correct candidate to initiate automated workflows for continuous, ongoing vendor monitoring, issue creation and management.
Vendor Identity Intelligence is built on ProcessUnity’s Best Practice Program for Vendor Risk Management – a complete, proven third-party risk program with turn-key workflows, assessments, calculations, risk analysis and reporting. Developed by Third-Party Risk Management subject matter experts and perfected via hundreds of successful customer implementations, ProcessUnity’s Best Practices Program delivers a complete, “out-of-the-box” program with a high-quality, systematic and repeatable assessment process that improves communication between lines of business, third-party risk analysts and third-party contacts to ultimately drive risk out of an organization.
ProcessUnity’s Best Practices Program employs industry standard questionnaires to further streamline the vendor assessment process. The identity verification provided by VII, coupled with the risk intelligence from the questionnaire, gives analysts a wider view of potential risks for a more thorough vendor evaluation.
Interactive Dashboards & Reports
ProcessUnity Vendor Identity Intelligence provides a realtime, holistic view of the third-party lifecycle across vendor populations through pre-built interactive reports and dashboards. Drill-down capabilities allow users to quickly find the details in any areas of concern while ProcessUnity’s extensive custom reporting capabilities enable the creation of role-specific reports to demonstrate to executives and regulators the existence of a consistent, reliable and repeatable program.
With built-in integration to D&B’s D-U-N-S Search and Beneficial Owner Search, the ProcessUnity Vendor Identity Intelligence provides third-party risk teams with a complete Third-Party Risk Management solution that can be deployed in a matter of weeks. These components combine to provide critical insights into a third party’s risk posture, strengthening the relationship between a business and its vendors, third parties and suppliers.
Schedule a Demonstration
Incorporate identity intelligence into your Third-Party Risk Management processes. Complete the form below to schedule a ProcessUnity Vendor Risk Management demonstration.