Today Blue Umbrella announced the arrival of the Compliance Screening and Monitoring module for Blue Umbrella GRC, a technology platform that helps mid-size companies effectively manage multiple areas of third-party risk. Blue Umbrella GRC offers a modular approach, allowing users to build the third-party risk management system that suits their specific needs.
The Compliance Screening and Monitoring module completes the suite of products available to general counsels, trade sanction experts, and procurement leaders at mid-market companies. Launched in partnership with one of the largest, most well-known providers of database solutions, the module includes millions of relevant, categorized findings from hundreds of watchlists and sanctions lists as well as politically exposed individuals and state-owned entities from around the world.
Access to the module will provide mid-size companies with the ability to reach the highest compliance standards. Coupled with Blue Umbrella GRC’s remediation, diligence and assessment modules, mid-market companies now have access to a right-sized approach to global compliance.
Enterprise GRC systems are typically designed for much bigger organizations and require a large subscription or considerable license fees, particularly for the compliance screening function. Blue Umbrella GRC addresses these specific concerns by offering a right-size solution for mid-size companies, starting with as little as 500 third-party vendors for compliance screening and monitoring.
“We know that mid-size companies are struggling to manage third-party risk using tools that aren’t right for the job,” said Allan Matheson, CEO of Blue Umbrella. “Our approach with Blue Umbrella GRC is to offer a system where a team can start small and scale up from there, all without the heavy license fees or substantial implementation typically experienced with enterprise systems.”
About Blue Umbrella
Blue Umbrella provides due diligence research and innovative third-party compliance technologies. Combining global research excellence with disruptive RegTech SaaS solutions, Blue Umbrella serves multinational corporations and mid-size companies working in technology, manufacturing, life sciences, defense/aerospace, agriculture, energy, finance, and consumer goods as well as top-tier investment banks. With a global presence and local focus, Blue Umbrella helps compliance teams increase automation and efficiency, reduce costs, and gain critical understanding of their partners, vendors, and agents. Learn more at blueumbrella.com.