ProcessUnity: Vendor Analysis — Third-party risk management solution overview, roadmap, competitors, tech selection tips, analyst summary

In this Spend Matters PRO Vendor Analysis we provide an overview of ProcessUnity and its solution for third-party risk management.

In today's global economy, companies rely heavily on suppliers to provide them with the materials and resources they need to operate their businesses. However, this reliance comes with inherent risks, as suppliers can encounter various challenges to their ability to deliver goods or services. So many factors can disrupt the supply chain and put businesses in jeopardy, from natural disasters and economic instability to quality control issues and unethical practices. To mitigate these risks, companies need to proactively monitor and assess their suppliers' risk profiles.

Supplier risk intelligence vendors, such as ProcessUnity, cater to this need. ProcessUnity aggregates supplier intelligence it gathers directly from suppliers with data it sources from its partners to craft a comprehensive supplier profile for each of its customer’s suppliers. Supplier risk is tracked and displayed by criticality and across many risk elements, including cybersecurity, ESG factors and financials. It also ensures customers comply with regulations as ProcessUnity encompasses capabilities for GRC.

Here’s why ProcessUnity matters:

• To the market — ProcessUnity provides supplier risk intelligence across a wide range of factors, e.g., geographic risk and financial stability.
• To customers — ProcessUnity specializes in tracking supplier risk for clients in the financial services, business services, energy/oil/gas, high technology, insurance, manufacturing and pharmaceuticals.
• To potential buyers — ProcessUnity handles supplier risk tracking and communication in one singular interface, with various RFx and workflow processes available to assist its customers in keeping track of their supplier risk.

This Spend Matters PRO Vendor Analysis explains what differentiates this vendor, gives an overview of its capabilities and competitors, provides tech selection tips and closes with key analyst takeaways.