WHAT IS A VENDOR COMPLIANCE ASSESSMENT?
What happens if your operations depend on the availability of your vendor’s services, but their service has an outage? If one of your vendors goes out of business, how does your organization continue to operate? If your organization shares cardholder data with a vendor and that vendor has a breach, what are the consequences for your organization? These are the types of scenarios your organization must consider when selecting vendors and effectively managing vendor risk.
A vendor compliance assessment is used to evaluate, test, and report on the effectiveness of a vendor’s information security and regulatory compliance controls. The result? A report validating the vendor’s commitment to delivering high quality, secure services to clients.
HOW CAN A VENDOR COMPLIANCE ASSESSMENT BENEFIT YOUR ORGANIZATION?
Organizations and their vendors are incredibly interconnected, which is why attacks on vendors are so common. You’re putting a great deal of control into vendor’s hands, so managing vendor risk must be an integral part of any business.
You may need a vendor compliance assessment because one of your clients is requesting it. If that’s the case, then you’re in the right place; auditing your vendors is a way to proactively demonstrate that you’re committed to using secure vendors. Vendor compliance assessments may also prevent security incidents at your organization, help you avoid fines from breaches, assist you in operating more efficiently, and most importantly, assure your clients that their sensitive data is protected when it’s in your hands.
WHY WORK WITH ALPHAEDGE QUODRANT?
Vendors needs to prove what they are doing to reduce risk to you and your customers; Alphaedge Quodrant is here to help. Our firm has over a decade of experience in information security and compliance assurance by performing assessments, audits, and tests that strengthen information security and internal controls. Alphaedge’s Information Security Specialists are senior-level experts, holding certifications like CISSP, CISA, ISO 27001, ISO22301, ISO20000 and Qualified Security Assessors to help you audit your vendors.
Connect with us today to learn about vendor compliance best practices, how to perform a vendor compliance assessment.