Improved third-party risk management sought by ProcessUnity, CyberGRX merger

ProcessUnity has acquired CyberGRX in a merger deal that aims to establish a new platform integrating a third-party risk management workflow platform and the biggest global cyber risk exchange that works to achieve vendor risk management centralization and standardization in an effort to better deal with cybersecurity threats, SiliconAngle reports. With ProcessUnity's vendor monitoring tools and assessment engine, as well as the cyber risk exchange of CyberGRX, organizations would be able to accelerate vendor onboarding, better examine hard-to-assess vendors, conduct perform post-contract due diligence, and curb cycle times, as well as lower both internal and external cybersecurity risks, according to the firms. "The combination between ProcessUnity and CyberGRX is an opportunity to revolutionize third-party risk management. In the short term, our customers gain program workflow, validated vendor assessment data, and artificial intelligence in a single solution safeguarding their critical assets while significantly reducing program costs," said ProcessUnity CEO Sean Cronin.