ProcessUnity and CyberGRX Combine to Form the Most Complete Third-Party Risk Management Platform in the Market
Summary
BOSTON & DENVER--(BUSINESS WIRE)--ProcessUnity and CyberGRX announced today that the Third-Party Risk Management (TPRM) leaders have joined forces, creating the industry’s most powerful software and data platform to accelerate customers’ ability to identify, assess, analyze and ultimately reduce risk within their ecosystem. Over time, our unparalleled expertise and forward-thinking innovators will introduce next-generation technology that will seismically shift how we manage cybersecurity and third-party risk. Use cases include: • Predictive Risk Profiling: Anticipate how a given third party will answer assessment questions with up to a 91% accuracy rate. • Automated Inherent Risk Scoring: Prioritize assessment strategies based on the likelihood a vendor will have a cyber incident and its potential impact. “Joining forces with ProcessUnity will push this endeavor farther and faster, allowing these professionals to more effectively demonstrate the value of their own risk management program, while also offering a new level of collaboration between companies and their trusted vendors to reduce risk on a global scale.” Under the terms of the transaction, ProcessUnity and its investors acquired CyberGRX, whose existing shareholders participated in the deal and will retain a minority stake.
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