NAVEX Global Launches Risk Management Solution Packages to Address Third Party, Business Continuity and Privacy Risk Management Needs

PORTLAND, Ore.--(BUSINESS WIRE)--NAVEX Global^®, the leader in integrated risk and compliance management solutions, today announced the availability of three new offerings designed to meet customer needs for solutions that address key risk management issues: Lockpath Third Party Risk Management; Lockpath Business Continuity Management; and Lockpath Privacy, Risk and Compliance Management. These focused solutions provide critical capabilities that leverage NAVEX Global’s award-winning Lockpath Integrated Risk Management (IRM) platform. Available individually – and fully upgradeable to the Lockpath IRM Standard or Enterprise editions – they enable organizations to quickly deploy solutions for risk issues that have become more apparent during the COVID-19 pandemic and are important for businesses to address quickly.

Current business conditions have exposed or intensified many operational risks – from supply chain disruptions and gaps in business continuity plans to new data privacy and compliance risks as more employees work remotely. Now front and center, these concerns create an immediate need for a solution to identify, manage and remediate these risks, along with an urgency to implement solutions quickly.

In response, NAVEX Global has packaged new solutions that allow organizations to rapidly implement targeted risk management programs. The solutions come with templates based on best practices – ensuring organizations can begin identifying and managing risks almost immediately – that can be tailored to meet each customer’s unique business needs. Further, the solutions are fully scalable, allowing organizations to address their most prominent risks today and build toward a more comprehensive integrated risk management program tomorrow.

• Lockpath Third Party Risk Management helps organizations create a more effective, responsive and agile third-party risk management program. The solution enables companies to more efficiently assess their third-party risks, understand how those risks impact the business and work on remediation activities to reduce risk and ensure compliance.
• Lockpath Business Continuity Management enables companies to strengthen business resilience by planning and preparing for disruptive events. The solution assists business and risk managers in identifying, assessing and quantifying risks to business processes, creating integrated plans for different scenarios that could impact business processes, testing those plans for effectiveness and compliance, and monitoring for organizational changes and conflicts that could impact plan execution and crisis management.
• Lockpath Privacy, Risk and Compliance Management allows organizations to establish a risk-based privacy program that is compliant with the world’s expanding privacy laws. The solution assists risk and compliance professionals in recording data processing activities, understanding the types of data they possess and how it flows throughout the organization, identifying and managing data privacy compliance requirements and risks to those requirements and assessing the impact of potential breaches.

“The COVID-19 pandemic has opened the eyes of Boards, C-Suites and investors that organizations need to proactively manage business risks,” said Bob Conlin, NAVEX Global President and CEO. “NAVEX Global’s newly packaged risk management solutions will help organizations address immediate business needs while providing a solid base to build a fully integrated risk management program going forward.”

About NAVEX Global

NAVEX Global is the worldwide leader in integrated risk and compliance management software and services that help organizations manage risk, address complex regulatory compliance requirements and foster an ethical, highly productive workplace culture. For more information, visit NAVEX Global’s website and our Risk & Compliance Matters™ Blog, follow us on Twitter and LinkedIn.