New platform aims to empower mid-size enterprises with tools to protect against data privacy violations, IT security risk and bribery and corruption in their business relationships.
Vancouver, British Columbia, January 9, 2020 – Today, Blue Umbrella announced the launch of Blue Umbrella GRC, a modular platform for mid-size enterprises to simplify governance, risk and compliance activities relating to their business relationships. Third-party risk represents the biggest vulnerability to enterprises of all sizes, yet many companies lack a single platform to handle their various compliance-related activities.
Blue Umbrella GRC launches with questionnaire modules for Data Privacy (compliance with GDPR), Anti-Bribery and Corruption (includes FCPA and Sapin II) and an industry-standard questionnaire for IT Security compliance.
Blue Umbrella has established its transformative approach to compliance activities in service of its mission to make business better. Their market-leading software, Status, is serving more than 250 large global organizations. Status, deeply integrated with Blue Umbrella’s due diligence research, is most suited to enterprises who manage tens of thousands of business relationships. In 2018, Blue Umbrella launched the i3 industry program for Status clients to recognize cost savings through due diligence report sharing.
With Blue Umbrella GRC, companies with revenues between $50M to $1B will now be able to leverage Blue Umbrella’s proficiency in third-party due diligence and compliance workflows and the knowledge acquired from working closely with compliance teams at some of the world’s largest companies.
Compliance is an important area of concern for companies of all sizes. Blue Umbrella’s experience shows that mid-size companies are using multiple tools to manage compliance-related tasks with their partners, vendors, and agents. This leads to wasted time, disparate data, and departmental silos.
Blue Umbrella GRC customers can buy only the modules they need or purchase bundles and get started right away, without IT intervention. The IT Security, Data Privacy and Anti-Bribery and Corruption modules offer:
• Gold standard questionnaires
• Centralized data across one or more modules
• End-to-end visibility to the responses of your partners, vendors, and agents
• Automated reporting and business intelligence
• Risk identification and remediation workflows
“Blue Umbrella GRC is another leap towards our vision to make business better by pioneering a more ethical, compliant and transparent business environment,” said Allan Matheson, CEO of Blue Umbrella. “The platform merges compliance and due diligence activities into one platform, available to multiple departments in a mid-size company.”
Blue Umbrella GRC resolves the complexity of managing compliance and risk management activities with third-party partners, vendors, and agents with easy-to-use plug-and-play software modules as part of a cloud-based service.