Fusion Risk Management announced product enhancements that expand its risk management capabilities. Fusion’s most recent product release includes a new third-party management offering along with a solution for organizations to connect with internal and external communities.
With these new enhancements, organizations now have the way to manage and mitigate risk to the perimeter of their enterprises and throughout their supply chain.
“In today’s business environment, the success and reputation of an organization depends on their ability to navigate and manage the relationships and risks associated with their third-party providers,” noted Michael Rasmussen, an internationally recognized expert on governance, risk management, and compliance (GRC) with GRC 20/20 Research, LLC.
“When engaging with third parties, as well as with all employees across an organization, an enterprise requires a flexible system tailored to different user experiences and needs; secure access from anywhere; and automated workflows. It is imperative that organizations enable the sharing of information in both directions, and combine all data-gathering and sharing efforts on a core risk management system to maximize its effectiveness.”
The new capabilities announced will enable Fusion Framework System users to engage vendors and other third-party communities in an integrated system. This helps to manage the vendor assessment process and incorporate third parties into broader risk management and resiliency strategies. By automating data collection, organization, and analysis, Fusion clients can better leverage limited resources to ensure a risk management program.
“These enhancements significantly extend Fusion’s third-party management capabilities while still delivering capabilities applicable to all aspects of risk management,” stated Fusion CEO David Nolan.
“This is in line with Fusion’s vision to provide organizations with command and control through a single pane of glass. While many clients have already been using the Fusion Framework for third-party management, these enhancements extend their reach and provide significant process and efficiency advantages. Fragmented programs that rely on legacy tools bear hidden costs and risks. Fusion’s solutions deliver on the promise that software should be a force multiplier with a clear ROI.”