ProcessUnity Closes 2022 with Significant Growth, Continued Market Leadership
Record-Setting Year Shaped by Third-Party Risk Management Innovation, Demand for Cybersecurity Performance Management Tools
News provided byProcessUnity, Inc.
Jan 25, 2023, 10:00 AM ET
CONCORD, Mass., Jan. 25, 2023 (GLOBE NEWSWIRE) -- ProcessUnity, a leading provider of risk management software solutions, today announced that it ended 2022 with record-setting success. Fueled by demand for its award-winning Vendor Risk Management and Cybersecurity Performance Management platforms, ProcessUnity set new marks for customer acquisition and account growth.
“Cybersecurity and third-party risk are the two most critical risks organizations face today. Companies realize that internal cyber practices alone are not enough to prevent breaches and ransomware attacks. Next-generation risk management programs unify their internal cybersecurity practices with external third-party risk management to form a comprehensive defense against risk,” said Sean Cronin, CEO of ProcessUnity. “ProcessUnity is uniquely positioned to align customers’ procurement and cybersecurity risk reduction efforts. We work closely with our clients to understand their challenges and foster their success through innovative solutions. Our market recognition continues to increase, which is driving even more success.”
ProcessUnity’s 2022 highlights include:
- Vendor Risk Management Market Recognition: ProcessUnity is a Leader in the Forrester Wave™ for Third-Party Risk Management Platforms, Q2 2022, with the top score in the Current Offering category. The report evaluates the 12 most significant platform vendors within the third-party risk management landscape, based on 27 criteria assessing Current Offering, Strategy and Market Presence. Additionally, ProcessUnity is a leader in the 2022 IDC MarketScape for Third-Party Risk Management Solutions and was named a Customer’s Choice in the 2022 Gartner Peer Insights ‘Voice of the Customer’: IT Vendor Risk Management Tools report.
- Record-Breaking Sales: ProcessUnity had a record-breaking year in 2022. The organization experienced significant software subscription growth with a solid mix of new customer wins and program expansion at existing clients. ProcessUnity continues to win business with enterprise organizations with the most complex requirements as well as with mid-market and small companies looking for guidance on program best practices.
- Industry-Leading Platform Innovation: ProcessUnity unveiled enhancements to its flagship Vendor Risk Management platform, including the acquisition of Artificial Intelligence and Natural Language Processing technology from ISMS solutions. Additionally, ProcessUnity introduced significant user interface and user experience enhancements to further streamline key processes and increase usability for teams of all sizes.
- Cybersecurity Performance Management Expansion: ProcessUnity expanded its Cybersecurity Performance Management platform to include a risk register and policy management capabilities. Developed to help CISOs lower risk severity, the risk register provides complete visibility into an organization's risk landscape. The addition of Policy Management helps organizations keep their internal cybersecurity policies and procedures updated and effective by automating reviews, signature requests and approvals.
- Expanded Partner Ecosystem: ProcessUnity partners continued to win new business through its expanding partner community. By engaging with partner organizations and their offerings, ProcessUnity customers leveraged leading managed services, consulting firms and content providers to expand their programs and increase visibility across their vendor ecosystems. As ProcessUnity continues to deepen its relationship with existing partners and begin relationships with new ones, its platform becomes increasingly powerful and more versatile.
- Customer Summit: A record number of customers and industry leaders attended the 2022 ProcessUnity Customer Summit in Orlando, Florida, held to connect customers, product experts and industry leaders on third-party risk and cybersecurity innovation. The thought leadership event featured customer case studies, expert panel discussions and product deep dives to share best practices for Vendor Risk Management and Cybersecurity Performance Management.
- Top Workplaces Award: ProcessUnity was named a Top Place to Work by the Boston Globe for the third time. The organization strives to create a diverse and inclusive environment where employees can excel in their careers, balance work and family and give back to the communities around them.
“ProcessUnity’s success in 2022 was not possible without our tremendous team,” said Sean Cronin, CEO. “We attract world-class talent focused on collaboration, innovation and ultimately, customer satisfaction. I’m proud to work with such a great group of people, and I’m excited for ProcessUnity to accomplish even more in 2023.”
ProcessUnity is a leading provider of cloud-based applications for third-party risk and cybersecurity performance management. The ProcessUnity platform unifies how organizations assess, measure, and mitigate risk through automation. Built by a team of risk experts and implemented within the world’s leading enterprises, ProcessUnity solutions align programs and people to create a well-rounded defense against critical business risks. Headquartered outside of Boston, Massachusetts, ProcessUnity has earned recognition from leading analyst firms, customers and partners. For more information, visit http://www.processunity.com/.
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