NEW YORK and CONCORD, Mass., May 16, 2017 (GLOBE NEWSWIRE) -- RapidRatings, the leader in financial health analytics and ProcessUnity, a leading provider of cloud-based solutions for risk management, today announced a partnership to streamline the due diligence process for third-party risk management. The technology integration between the two companies will embed the Financial Health Rating (FHR®) within the ProcessUnity platform, enabling organizations to gain visibility into the risk profile of third parties before the onset of, and during the relationship.
RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The forward-looking FHR provides a predictive view of the financial stability, operating efficiency, and probability of default for vendors, suppliers, and other third-party relationships. “We believe that every business decision is better informed with a clear picture of financial health,” said Eric Evans, Managing Director of Business Development at RapidRatings. “Integrating with ProcessUnity’s robust risk platform further drives our efforts towards a more transparent business world, providing greater visibility and control of third-party risk management.”
Joint customers gain access to RapidRatings’ financial health data through their existing ProcessUnity views, reports and dashboards. “Our customers, ranging from Fortune 50 enterprises to SMEs, all require real-time visibility into the risks posed by third-party relationships,” said Todd Boehler, Vice President of Product Strategy at ProcessUnity. “With RapidRatings FHR, our customers are gaining accurate and critical visibility into the overall financial health of public and private third parties.”
For more information on Vendor Cloud and third-party risk management, visit www.processunity.com.
About RapidRatings
RapidRatings is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Every business conversation becomes more productive, transparent and efficient with the RapidRatings Financial Health System. For more information, visit www.rapidratings.com.
About ProcessUnity
ProcessUnity is a leading provider of cloud-based applications for risk management and service delivery management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. For public companies and regulated industries, ProcessUnity Risk Suite delivers effective governance and control, vendor risk mitigation, and regulatory compliance. For benefit plan administrators and other financial service firms, ProcessUnity Offer Management controls complex product offerings and strengthens client service experience. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit www.processunity.com.