ProcessUnity, a provider of comprehensive risk management and cybersecurity solutions, has announced its integration with the Global Risk Exchange (GRX; formerly known as CyberGRX). The company claims that the move to combine its services transforms ProcessUnity into the industry's first all-inclusive risk platform, aiming to modernize third-party risk management (TPRM) initiatives.
ProcessUnity's integrated platform brings together TPRM automation, a universal data core, the Global Risk Exchange, and AI-enabled TPRM teams. These features provide a unified, efficient system for identifying, assessing, monitoring, and controlling third-party-related risks. The company also reported that users have reported substantial reductions in oversight, onboarding, and assessment times.
Analyst QuickTake: This integration follows the acquisition of CyberGRX by ProcessUnity in July 2023 , where the intention was to combine the offerings of the two entities to deliver a standard risk database for vendor assessments and cyber risk data while continuing to provide new solutions for third-party risk management.
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