ProcessUnity's AI Agents Cut Intake Time and Boost Assessment Throughput
ProcessUnity, a leading Third-Party Risk Management (TPRM) company, has launched a suite of AI agents designed to automate manual tasks and reduce busywork for risk management teams. The new technology has shown promising results, with one early adopter cutting intake cycle time by 54% and improving assessment throughput by 43%.
The ProcessUnity AI Agents for TPRM are purpose-built to handle the repetitive and data-intensive tasks involved in third-party risk management. These agents can be deployed across the risk management lifecycle, from intake and due diligence to ongoing monitoring. Each agent is designed to perform a specific task, such as drafting questionnaires or analyzing contracts, and can be launched with a single click from the vendor or request record.
One large global technology and consulting firm that has adopted the technology has seen significant improvements. The firm reported a 75% reduction in incomplete inherent risk questionnaires, a 54% decrease in initial intake cycle time, and a 43% increase in assessment throughput. Additionally, the firm now completes 45% of assessments with the help of these AI agents.
According to Todd Boehler, Chief Strategy Officer at ProcessUnity, the company's approach to AI in TPRM is fundamentally different from that of its competitors. "Risk teams have been told that generalist AI will fix third-party risk, but the work is too contextual for a chatbot," Boehler said. "We are delivering differentiated hybrid-AI technology that provides the most integrated and time-saving application of AI in the TPRM market. The result is that automation teams can understand, verify, and defend their decisions, and risk practitioners can finally spend their time on the decisions that reduce risk instead of the surrounding busywork."
The AI agents are organized into three packages that span the entire TPRM lifecycle. Out-of-the-box agents are available for intake, due diligence, and monitoring and remediation. For example, the Intake Agents include the IRQ Responder, which drafts answers to inherent risk questionnaires, and the Duplicate Third Party Inspector, which identifies vendors a business already works with. The Due Diligence Agents include the SOC 2 Analyzer, which reads a SOC 2 report as a seasoned auditor would, and the Contract Scanner, which extracts relevant metadata from vendor contracts. Monitoring and remediation agents include the Executive Risk Reporter, which generates an executive summary of a vendor record, and the Issue Remediator, which creates vendor-facing remediation instructions.
ProcessUnity also offers a no-code Agent Architect, allowing non-technical analysts to build their own agents for niche regulations, internal policies, or specific program workflows. This flexibility ensures that TPRM teams can adapt the technology to their unique needs without requiring extensive coding expertise.
"These agents represent a significant step forward in the automation of third-party risk management," said Boehler. "They provide a powerful tool for reducing assessment work while maintaining the rigor and quality of risk assessments."