Overview

ProcessUnity Third-Party Risk Management (TPRM) is a cloud-based platform designed to help organizations manage risks associated with their vendors and third parties. It automates and streamlines vendor risk assessments, due diligence, and ongoing monitoring processes. The platform improves visibility into third-party risks, supports regulatory compliance, and enables cross-functional collaboration. With configurable workflows, centralized document management, and risk scoring, ProcessUnity empowers enterprises to reduce operational, financial, and reputational risks linked to suppliers and partners.

Features and Capabilities

• Vendor Risk Assessment Automation: Streamline the process of collecting, reviewing, and analyzing vendor risk data using customizable questionnaires and workflows.
• Centralized Vendor Registry: Maintain a comprehensive, up-to-date inventory of all third parties, contracts, and associated risk profiles in a single system.
• Continuous Monitoring: Integrate with external data sources to provide real-time updates on vendor risk indicators such as financial health, cybersecurity threats, and regulatory issues.
• Risk Scoring & Analytics: Automated risk scoring models enable objective assessment and prioritization of third-party risks for focused mitigation efforts.
• Compliance Management: Support compliance with regulations like GDPR, HIPAA, and SOC 2 by enforcing policy adherence and documenting risk management activities.
• Document & Evidence Management: Securely store and manage all vendor-related documents, certifications, audit reports, and contracts with version control and audit trails.
• Workflow Configuration: Highly configurable workflows adapt to unique organizational processes and risk tolerance, enabling cross-team collaboration and approval routing.
• Reporting & Dashboards: Interactive dashboards and customizable reports provide insights into vendor risk status, trends, and remediation progress.
• Third-Party Risk Questionnaire Library: Access to pre-built, industry-standard questionnaires for streamlined risk data collection.
• Integration Capabilities: Seamlessly connect with GRC, ERP, and procurement systems to synchronize vendor information and risk data.
• User Access Controls & Security: Role-based access ensures secure data sharing and compliance with enterprise security standards.
• Audit & Incident Management: Track risk incidents, vendor performance issues, and audit findings with automated alerts and remediation tracking.