ProcessUnity and Argos Risk Partner to Provide Real-Time Credit and Financial Risk Assessments for Third-Party Risk Management

MINNEAPOLIS, MN and CONCORD, MA--(Marketwired - Mar 15, 2016) -  Argos Risk and ProcessUnity today announced an alliance to integrate Argos Risk Online (ARO) with ProcessUnity's cloud-based Third-Party Risk Management solution. The integration allows organizations to automatically assess the overall financial health of third-party providers and key business partners as part of a comprehensive vendor due diligence process. Real-time monitoring and automated alerts notify risk managers of any changes to critical scores on an on-going basis, allowing them to proactively address negative impacts to vendor risk.

"Businesses are at tremendous risk if they are not armed with critical information regarding the creditworthiness and financial health of their third-party service providers and other business partners," said Lori Frank, Argos Risk President and CEO. "The integration of Argos Risk Online into ProcessUnity's Third-Party Risk Management solution empowers vendor managers to protect their businesses on many levels. This tool monitors the financial status of key business partners, sending alerts when there are factors warranting further investigation. Users can proactively evaluate the severity of the alert and determine the appropriate course of action. In addition, users are ensured they are meeting regulatory compliance standards. We are honored to partner with ProcessUnity to integrate ARO into their suite of solutions."

"Assessing financial viability is a key aspect to pre-contract due diligence and on-going vendor risk management. However, with hundreds or even thousands of third parties to research and monitor, organizations rarely have the time and resources to complete reviews manually," said Todd Boehler, Vice President of Product Strategy at ProcessUnity. "ProcessUnity's partnership with Argos Risk further extends our capabilities for third-party due diligence, allowing customers to automate the financial review process. The integrated service offering is extremely valuable to organizations implementing effective and efficient vendor risk management programs." 

ProcessUnity's Third-Party Risk Management solution reduces the time and resource costs associated with identifying and mitigating risks posed by third-party service providers. The cloud-based service combines a vendor service catalog, automated assessment tools and interactive reporting capabilities in an extremely easy-to-use environment that allows organizations to eliminate manual tasks and focus on higher-value risk management activities.