A Universal Data Core is a single repository that centralizes data from various sources, providing a holistic view of an organization’s third-party risks. By recording third parties’ financial data, privacy compliance status, contractual obligations and operational metrics on a single platform, teams can achieve greater data accessibility and gain complete visibility into their third-party risk.
A Universal Data Core eliminates the inefficiencies and inconsistencies of siloed data, meaning teams can swiftly and effectively assess, manage and mitigate risk across the third-party ecosystem, enhancing assessment quality. TPRM leaders that build a Universal Data Core can free up resources previously spent on manual data collation, encouraging a more dedicated focus on strategic risk mitigation measures.
Download our white paper to creating a Universal Data Core for TPRM and learn how to: