Vendor Risk Assessments

Organizations manage their third-party risk through myriad platforms, internally developed toolsets, and data collection methodologies. These each are designed to meet the needs of the organization, and support their individual risk tolerance, however they lack the standardization required to efficiently collect the information required. 

 

Enter Venseca. Our platform generates efficiency by working on behalf of our participating organizations to collect, analyze and report on all required cyber-related information provided directly to Venseca by a supplier. This independent evaluation and Digital Trust Score are then provided to participating organizations through their Venseca dashboard, and/or loaded into their existing TPRM toolset.

 

To combat the disparity of digital trust, Venseca was created to streamline digital trust management by placing the burden of the vendor risk assessment on the service provider, rather than the organization.  The vendor purchases their risk assessment (including their Digital Trust Rating) directly from Venseca, who includes the VRA in a library accessible to organizations. This independent assessment is rapidly becoming a required step in several organizations’ RFP and procurement processes.

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The Venseca process takes as input validated reports and assessments from each participating vendor and analyzes those inputs, combining that data into a simple, streamlined report.  Saving buyers from the laborious task of reviewing the full collection of security risk-related documentation provided by a vendor, the VRA optimizes a vendor’s sales process, while providing the buyer with the confidence needed to make a purchasing decision.

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Collected information for each supplier includes over 80 data inputs, including such components as: validated risk assessment questionnaires (HECVAT, HIMSS, HIPPA, CAIQ, etc.), CMMC reports, SOC2 Type 2 reports, internal security standard documentation (AUPs, Access Control Standards, Encryption Standards, Operations and Personnel Security Requirements, Vulnerability Management Processes, Business Continuity Documentation, etc.), Penetration Testing information, and Cybersecurity Training Programs.