Monitoring third parties for compliance is vital for businesses as regulatory authorities continue to hold companies responsible for the actions of their intermediaries. But as identifying and managing risk can be a daunting task for many businesses. Luckily, technology is at hand to help.
Wolters Kluwer ELM Solutions recently released a new iteration of its risk management module; Passport GRC Third-Party Risk Monitor. The product is an extension of the company’s Passport GRC solution, and provides a framework for managing governance, risk, and compliance programs.
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