Your questionnaire is ready. You’ve defined your risk appetite. You know what controls need to be in place. Finally, you’re ready to send your third party its risk assessment.
But then you run into an issue: You don’t know who to send it to. And when you do send it, no one responds. If they do, they aren’t sure what you mean by question 3.12 and 4.17. So, you take 30 minutes to type up an email. Then, your contact goes dark. You try to get ahold of the business leader who championed the software provider to see if they can point you in the right direction. However, they’re located in a different country and you just can’t seem to find a time to connect.
Oh, and that’s just one vendor. You have thousands.
If this sounds familiar, you’re not alone. Companies around the world are experiencing the same challenges. From afar, the assessment process sounds simple: send and receive. Yet, the devil is in the details, and the details are many and meticulous. They consume an enormous amount of bandwidth, reducing the time your team can spend on more meaningful projects and directly impacting your bottom line.
What If You Could Offload Vendor Risk Assessments to a Dedicated Team Free of Charge?
In helping implement hundreds of third-party risk programs, OneTrust recognized the challenges illustrated above are pervasive across industries and company sizes.
We wanted to provide our customers with a solution, one of which is our free third-party chasing service (available at no extra cost to all OneTrust Vendor Risk Management customers when using an industry standard, framework, or questionnaire).
This service is offered for free because it is mutually beneficial. You are no longer bogged down with the back-and-forth, and on the OneTrust side, it helps build our pre-completed risk assessment database within Vendorpedia, our third-party risk exchange.
With the third-party chasing service, your team can designate a OneTrust team member as an agent to work on your behalf. Each agent follows a strict and proprietary methodology designed to hold third-party vendors accountable to timelines for assessment completion. It goes far beyond the occasional automated email. Our agents will form personal relationships with the people responsible for completing risk assessments, offering guidance, training resources, and on-demand support to streamline the assessment process.
Your agent will handle all the back-and-forth assessment-related communication, freeing up your team to focus on your most high-priority projects.
Existing OneTrust customers can learn more about our free third-party chasing service by contacting your OneTrust representative or reading our FAQs in the support portal.
For those new to OneTrust, request a demo today.