OneTrust Vendorpedia Launches Support for 2020 Shared Assessments Third Party Risk Management Toolkit
ATLANTA, Nov. 21, 2019 /PRNewswire/ -- OneTrust Vendorpedia™ today launched support for the 2020 Shared Assessments Third Party Risk Management Toolkit to help organizations automate and measure risks across their third parties in a quantifiable, objective and repeatable process. The Third Party Risk Management Toolkit features new privacy tools for regulatory compliance, expanded risk areas, and enables organizations third party risk programs regardless of size or industry. As part of this launch, OneTrust Vendorpedia will support the 2020 toolkit to streamline and automate the third party risk assessment process.
The 2020 Shared Assessments Third Party Risk Management Toolkit includes improved Vendor Risk Management Maturity Model (VRMMM) benchmarking tools, new functionality features to allow better administration of the Standardized Information Gathering (SIG) assessment, and scoping capabilities that deliver a menu of Standardized Control Assessment (SCA) procedures tailored for each onsite or virtual assessment. All tools received a regulation refresh, taking into account recent national and international changes (i.e. CCPA and GDPR) and incorporate enhanced risk areas around anti-trust, anti-bribery, and more. The Shared Assessments Third Party Risk Management Toolkit is supported by OneTrust Vendorpedia, a purpose-built software solution designed to automate risk assessments and streamline vendor due diligence and monitoring.
OneTrust Vendorpedia enables faster assessments with automation workflows and enables risk mitigation, ongoing monitoring, and powerful reporting to manage the entire third party engagement lifecycle.
“Third party risk is a board-level concern. With reputational and regulatory risk on the line, organizations demand a strong framework to approach third party risk across privacy and security,” said Catherine A. Allen, CEO of Shared Assessments. “The Shared Assessments 2020 Third Party Risk Management Toolkit is an asset that enables third party risk management professionals with an assessment and framework that’s built for the future. We are proud to work alongside OneTrust Vendorpedia so our members can leverage intelligent and automated technology to discover, remediate, and monitor third party risks in a centralized platform.”
“OneTrust Vendorpedia’s support for the Shared Assessments 2020 Third Party Risk Toolkit comes at a time when the compliance landscape is shifting and businesses need a solution that is easy-to-use and adaptable to needs over time,” said Blake Brannon, Vice President of OneTrust. “By launching same day support for the new Third Party Risk Management Toolkit, users can take full advantage of the Shared Assessment team’s expertise and tools for third party risk success.”
About Shared Assessments
As the only organization that has uniquely positioned and developed standardized resources to bring efficiencies to the market for more than a decade, the Shared Assessments Program has become the trusted source in third party risk assurance. Shared Assessments offers opportunities for members to address global risk management challenges through committees, awareness groups, interest groups and special projects. Join the dialog with peer companies and learn how you can optimize your compliance programs while building a better understanding of what it takes to create a more risk-sensitive environment in your organization.
About OneTrust Vendorpedia
OneTrust Vendorpedia™ is the largest and most widely used technology platform to operationalize third party risk, security, and privacy management. More than 4,000 customers of all sizes use OneTrust, which is powered by 60 awarded patents, to offer the most depth and breadth of any third party risk, security, and privacy solution in the market. OneTrust Vendorpedia is purpose-built software designed to help organizations manage vendor relationships with confidence and integrates seamlessly with the entire OneTrust platform, including – OneTrust Privacy, OneTrust GRC, OneTrust DataGuidance™, and OneTrust PreferenceChoice™.
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