New AI capabilities from AuditBoard automate time-consuming workflows
AuditBoard, the leading cloud-based platform transforming audit, risk, ESG, and InfoSec management, is debuting a series of new AI enhancements focused on bringing AuditBoard closer to its vision of delivering a modern connected risk platform. Each of these capabilities—Automated Vendor Assessments, Intelligent Staffing, and Automated Framework Updates—automate crucial yet time-consuming workflows, ensuring enterprises can effectively address today’s threat landscape.
AuditBoard’s new AI functionality was prompted by a recent survey, conducted by AuditBoard and Ascend2 Research, which found that 89% of organizations plan to use AI but continue to face key roadblocks preventing successful implementation—namely data privacy concerns and high costs. This reveals a complex balancing act between AI innovation and mitigating risks, where enterprises must achieve equilibrium to drive tangible success, according to AuditBoard.
Building on AuditBoard’s existing AI and automation capabilities, this release introduces three key enhancements that bring organizations closer to true efficiency without ignoring risk or climbing costs.
The first of these capabilities, Automated Vendor Assessments, enables third-party risk managers to utilize a combination of historical vendor assessments and publicly available compliance reports to automatically generate questionnaire responses for vendor assessments. This automation alleviates the manual, tedious process of sending out, completing, and reviewing high quantities of vendor questionnaires—which often necessitate third-party risk managers to sift through extensive data assets and engage in countless follow-ups, according to AuditBoard.
With Intelligent Staffing, enterprises benefit from AI-powered analysis of practitioner areas of expertise and bandwidth to effectively recommend resources and align project requirements with deadlines. This improves the process of staffing projects—which is often a manual circus of balancing budgets, skill sets, timeliness, and compliance—by saving time and shortening audit cycles.
Automated Framework Updates empower InfoSec teams to more easily stay up-to-date with the continuously shifting compliance and regulatory landscape, as well as how various frameworks directly impact operations. Now, these teams benefit from AuditBoard automatically transferring key data—such as assessment results, ownership, and compliance status—to the updated framework version, highlighting which components require action.
“As a manager, the AuditBoard platform speaks for itself,” said Greg Zubulake, internal audit manager at Titan International. “AuditBoard AI has drastically improved the team’s efficiency, and these new features will continue to help us ensure we are optimizing team resources.”
“With these powerful new enhancements, teams can now leverage AI to dramatically streamline their existing workflows and drive increased business value,” said Sarika Khanna, chief product officer at AuditBoard. “These exciting capabilities are a direct result of conversations with our customers and are designed specifically to meet the unique and evolving needs of audit, risk, and InfoSec professionals as they are tasked to do more with less.”
To learn more about AuditBoard, please visit https://www.auditboard.com/.