3rd Party Risk Management is Regulation Required
Managing third-party cyber risk is essential to the success of your business, as more of your business platforms and services are provided by third parties. While you can outsource your systems and services, you know that you cannot outsource your risk. After all, your assets are on the line when the cyber security of one of your vendors is breached.
At the heart of third-party risk management is ensuring vendor compliance with your security risk standards. You must collect evidence to determine if they meet your standards and issue corrective action plans where improvement is required.
How do you efficiently ensure vendor risk compliance
when you have 10s, 100s, or 1,000s of vendors and limited resources? Questionnaires are part of the solution, but they only provide periodic visibility and they are only as good as the vendor’s representation. Open source intelligence can be helpful, but often ends up creating extra work because of false positives and being loaded with mountains of issues that aren’t risk relevant.
You want an easy path for understanding and acting on your third-party cyber risk that scales to your business — accurate, relevant information that is tuned to match your risk policy.
Automated and Continuous 3rd Party Risk Assessments
eSecurity Solutions 3rd party risk management solution automatically produces risk-prioritized action plans that are custom-fitted to match your risk policy. Whether it be 10 or 10,000 companies, all you have to do is configure your risk policy and our solution does the rest, providing you instant understanding of customers’ performance to your risk policy and an easy path to action by automatically creating action plans detailing the issues that violate your risk policy.
3rd Party Risk Management Results
All we need are your vendor names and domains to provide continuous monitoring, rating and risk alerts for your 3rd party vendors. Our assessments are truly risk-based, being the only solution in the world that automatically risk prioritizes every issue based on asset value and issue severity. Our assessments are custom-fitted to match your risk policy. We automatically generate vendor action plans that contain only the issues that violate your risk policy. Assessments are continuous, providing you current visibility into each of your vendor’s risk performance. Our risk assessments are comprehensive, assessing every system and the overall enterprise against 39 security criteria spanning 10 security domains.
- Asset Discovery
- Asset Risk Value Classification
- Issue Risk Prioritization
- Custom-Fitted Risk Action Plans
- Online Collaboration with your Vendors
- Continuous Monitoring & Alerts