Convercent by OneTrust today announced the availability of Third-Party Risk Management for Ethics and Compliance professionals. The new solution enables ethics and compliance teams to fully understand and manage third-party risk through automated screening, due diligence, risk management, and ongoing monitoring of key risks that arise from the scope, activities, location, and persons present in that third party relationship, to name a few. Using the power from leading TPRM solution OneTrust Vendorpedia, Third-Party Risk Management for Ethics and Compliance leverages the collective power of Convercent by OneTrust and the OneTrust privacy, security, and data governance platform.
Increased reliance on third parties, growing ethical concerns, and new regulations create complex requirements for ethics and compliance professionals. Some of those obligations include understanding the potential risk present in your third parties. Accordingly, ethics and compliance professionals must conduct third-party screening, due diligence, risk management and mitigation, and ongoing monitoring throughout the relationship with third parties.
Third-Party Risk Management for Ethics and Compliance helps address these challenges with integration and automation, ultimately reducing the ethical and compliance risks associated with those third parties. Rich integrations with screening and compliance monitoring providers adds even more visibility into the risk in third-party relationships.
The solution enables automation of the end-to-end third-party due diligence process through key capabilities including:
“Ethics and compliance teams evaluate numerous types of third parties including suppliers, agents, venture partners, investors, customers, and many others. As a result of this outsourcing, third parties introduce more compliance risk than ever before. The Third-Party Risk Management for Ethics and Compliance solution will help automate screening, due diligence, risk management, and ongoing monitoring, providing greater visibility into third parties and the risks they pose from an ethics and compliance standpoint,” said Asha Palmer, Chief Ethics and Compliance Officer at Convercent by OneTrust.
Patrick Quinlan, Chief Executive Officer at Convercent by OneTrust added, “This solution combines the ethics and compliance expertise of the Convercent by OneTrust team with the world-class OneTrust privacy, security, and governance platform, furthering our shared vision to help organizations around the world be more trusted.”
To learn more about Convercent by OneTrust’s Third-Party Risk Management for Ethics and Compliance, register for the webinar. For information or to request a demo, visit Convercent.com.
Convercent by OneTrust Third-Party Risk Management for Ethics and Compliance is available today. To purchase, reach out to your Convercent by OneTrust account executive or request a demo.
About Convercent by OneTrust
Convercent by OneTrust is the leading global provider of ethics and compliance software, empowering the world’s largest and most admired companies to understand organizational risk, protect their brand, and engage employees with their ethics and compliance program. The Convercent by OneTrust Ethics Cloud Platform, which includes the Ethics and Compliance Portal; Helpline and Case Manager; Policy and Learning; and Disclosures and Conflict of Interest, leverages a global dataset to deliver business leaders the insights required to make proactive, informed decisions about their company’s ethical health through real-time dashboards and analytics.
Convercent by OneTrust is a part of the #1 most widely used privacy, security and governance platform used by more than 10,000 customers and powered by 150 awarded patents. OneTrust is powered by the OneTrust Athena™ AI and robotic automation engine, and integrates seamlessly with the full OneTrust platform, including OneTrust Privacy Management Software, OneTrust DataDiscovery™, OneTrust DataGovernance™, OneTrust GRC, OneTrust Ethics, OneTrust PreferenceChoice™, OneTrust ESG, and OneTrust DataGuidance™.