Most companies are focused on information security within their businesses not realizing their customer information is more vulnerability through a vendor/third party. It is estimated that 43% of breaches are related to vendors. Many companies, especially larger companies, are requiring more rigorous proof of vendor compliance regarding cybersecurity to reduce their liabilities and exposure.
Proof of compliance can include:
- Security Risk Assessment
- Incident response plan
- Updated policy and procedures
The challenge is that many large companies and vendors do not have the time and expertise to navigate the complexity in meeting, maintaining and monitoring proof.
Upgrade your vendor compliance
CyberCompass™ recently added features that can help vendors and large companies work to meet proof of compliance through its automated workflow capabilities. For example, CyberCompass™ can automatically provide updated policies and procedures as well as an incident response plan based on answering its streamline assessment. Cloud-based and user-friendly, CyberCompass™ helps companies move out of a spreadsheet environment, saving money and reducing liabilities quickly. This unique feature allows our partners to offer a more comprehensive vendor compliance management solution to their clients.
“We are constantly working and looking for ways to help small to medium size businesses meet compliance faster and affordably to help their business sustain and grow,” stated Robert Felps, CEO of Third Rock who developed CyberCompass™. CyberCompass™ is working with larger companies and their small to medium size vendors to help meet compliance and reduce liabilities.
CyberCompass ™ Vendor Compliance Management Features:
Not offered by other vendor management software
|– Assessments against different and multiple regulations such as HIPAA, GDPR, CIS-20, NYDFS|
|– Simplified questions to streamline and obtain better response|
|– Incident response plan with corrective actions|
|– Automated notifications and reminders with monitoring|
|– Comprehensive dashboard|
|– Custom reporting|
Vendor management is a feature built in to all of our packages. Find one today that is right for you.
CyberCompass ™is the only automated cyber risk management software that streamlines assessment, remediation, compliance and reporting that reduces security risk assessments by 70%. It is effective for clients to improve their ongoing cyber risk management across employees, processes, vendors, and technology to achieve 90% compliance to reduce liabilities and improve cyber resilience.