Overview

Individuals managing the vendor risk lifecycle face difficulties when researching third-parties, completing risk assessments on time, and when determining when new risks emerge. As organizations continue to increasingly rely on third-party vendors in the landscape of frequent data breaches, it is now more important than ever for modern risk solutions to adapt to solve both privacy and security challenges.

Today, OneTrust Vendorpedia users can automate the entire vendor lifecycle from onboarding, triaging and assessing risks, managing vendor contracts, demonstrating compliance with record keeping, performing ongoing vendor audits, and fully off-boarding vendors.

Key capabilities include:
· Identify and mitigate risks
· Offload assessment-related work
· Access pre-populated research
· Manage key contract terms
· Add business context to vendor risks
· Maintain ongoing vendor oversight
· Get alerted when vendor breaches occur
· Automate custom questionnaire completion

With more than 4,000 customers, Including 35% of the Fortune 500, OneTrust has rapidly broken through the crowded vendor risk management market and has helped shape the industry amidst disruptive data protection and security requirements.

Recently, Ovum Research released a report on Vendorpedia capabilities. Among the praise included: “OneTrust’s capabilities are built to help the enterprise pursue a model of ongoing vendor assessment, which continues in perpetuity (and automatically) once a relationship is initiated. A vendor that is initially deemed trustworthy and compliant may become a risk if it suddenly modifies policies or capabilities, and OneTrust’s cloud-based platform helps monitor, and inform the enterprise of, any relevant vendor changes that may affect risk.”

We believe this third-party industry recognition further validates that not only is vendor risk management market continuing to mature, but Vendorpedia is a clear frontrunner as new regulations increase third-party vendor liability.