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Technology / Cybersecurity

Datacert releases new risk management module

Legal management solutions provider Datacert has announced a new module designed to help companies reduce third-party risk and comply with regulations.

The Third-Party Risk Management Module, which is an extension of Datacert’s Passport GRC platform, is supposed to protect the brand and reputation of companies against third-party risks such as money laundering and fraud.

The module, which plugs into its Passport GRC software, provides ongoing risk assessments to help companies monitor and focus resources on third-parties that put the company at risk.

Other features include a common database, workflow engine and business intelligence provider, allowing information to be easily shared across different parts of the business.

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Michael Rasmussen, founder of strategy advisory firm GRC 20/20, said: "With thousands of third parties to contend with and increased regulatory scrutiny, companies must actively monitor and manage these relationships. Organisations need to demonstrate a defensible due diligence process and an in-compliance status throughout their extended business environment."

Shaheen Javadizadeh, VP of product management at Datacert, added: "Our solution helps companies strategically prioritise the risk level of third-party relationships so that resources are allocated in the right place, effective and ongoing due diligence is conducted and tracked, and ongoing monitoring is achieved."

This article is from the CBROnline archive: some formatting and images may not be present.