ProcessUnity, a provider of cloud-based applications for risk and compliance management, recently launched ProcessUnity Vendor Financial Intelligence powered by RapidRatings, a provider of financial health assessments and analytics. The addition to the ProcessUnity Vendor Intelligence Suite 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.
“Regardless of sector, size, or geography, companies need to have the ability to not only understand the financial health of their third-party vendors—but to build stronger relationships up and down the supply chain,” said Eric Evans, Managing Director of Business Development at RapidRatings. “VFI allows risk managers to seamlessly access purely quantitative public and private company ratings from within their existing workflows to advance critical business dialogues.”
ProcessUnity and RapidRatings began the partnership in 2017 with the launch of an external content connector from ProcessUnity to RapidRatings. Since then, ProcessUnity has been a key contributor to RapidRatings’ Align Client Conference as a leading Vendor Risk Management solution and data integrator. With the launch of VFI, ProcessUnity and RapidRatings have embedded the financial risk posture of third parties into the fully-configured third-party risk management program. Vendor Financial Intelligence centralizes all key financial information in one system to streamline the review process and eliminate manual research to determine financial risk.
“Embedded risk intelligence is a key component for mature third-party risk programs, and the financial health of your suppliers is a critical factor in gauging the risk level of your third-party ecosystem,” said Todd Boehler, Senior Vice President of Strategy, ProcessUnity. “ProcessUnity Vendor Financial Intelligence with RapidRatings provides unparalleled financial health transparency for both public and private companies, providing risk managers with a clear line of sight to making critical risk-based business decisions.”
ProcessUnity is a leading provider of cloud-based applications for risk and compliance management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts.
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