Posted on Feb 27, 2019
Using cumbersome, time-consuming questionnaires to vet vendors has become the industry standard, but they lack actionable metrics. Questionnaires offer insight into policies and procedures, acting as a first step to due diligence. With SecurityScorecard’s Atlas, organizations can streamline their cybersecurity compliance programs as well as their vendor management programs, creating robust information security programs.
Atlas Streamlines Cybersecurity Due Diligence
Atlas provides SecurityScorecard customers with a data repository that aggregates internal control evidence to standards and regulations using machine learning. “As the innovation leader in the security ratings space, we listened to our customers and designed a solution that solves some of the most common and challenging issues they face in their vendor risk management processes,” said Sam Kassoumeh, co-founder and COO. “Regulation mandates require companies to assess vendors and the questionnaire process is a key component of that process. Atlas changes the game by turning this cumbersome and low return on security investment and anachronistic process into a dynamic and highly valuable capability that can be leveraged by compliance, risk and security teams to improve their ecosystem’s security posture.”
Easy to Navigate
SecurityScorecard’s Atlas incorporates an intuitive interface. By incorporating drag-and-drop uploads as well as drop-down menus to fill in information, Atlas makes it easy to send requests and add documentation.
To give users a cohesive, easy-to-read experience, Atlas uses the same color-coding and A through F rating scale as the original SecurityScorecard platform.
Machine Learning Efficiency
Using SecurityScorecard’s proprietary machine learning, Atlas compares vendor responses to the platform’s analytics, giving nearly real-time verification of vendor responses.
To streamline the process of responding to multiple questionnaires, Atlas leverages the same machine learning technology to align previously answered questionnaires to newly submitted ones.
Finally, the machine learning offers visibility into how your current control environment aligns to other standards and regulations to ease future compliance efforts.
Atlas gives you the ability to personalize vendor requirements for pre-written questionnaires as well as create their own within the platform.
With the ability to sort and tag vendor information, users can also create customized risk monitoring views.
Efficient Secure Communication
Organizations can send questionnaires and documentation securely.
Moreover, our secure platform allows you to send real-time messages, speeding up the communication process and decreasing response times.
Atlas Enables More Robust Vendor Management and Compliance
SecurityScorecard’s machine learning technologies intended to provide visibility into the often muddy supply stream. Atlas takes the process one step further by providing more than ratings. With Atlas, SecurityScorecard now offers its customers a robust compliance-focused tool that streamlines the due diligence process while also creating audit documentation.
By leveraging machine learning to speed response times, SecurityScorecard’s Atlas turns a cumbersome process into an actionable monitoring function. By enabling users to request and track questionnaire responses, Atlas’s communication capabilities streamline the “trust” in the data ecosystem. Aligning the communication to monitoring and metrics using machine learning, Atlas provides a way to verify vendor due diligence decisions, giving risk and security professionals a way to communicate effectively with senior management and Boards of Directors.
With hackers finding new ways to attack third-parties in hopes of infecting a larger organization, the third-party ecosystem is more fragile than ever before.
The purpose of IT security risk assessment is to determine security risks to your company’s critical assets, and how much funding and effort should be used in their protection. Get started with SecurityScorecard’s step-by-step guide to managing your cyber risk.
Templates and vendor evaluations are needed to level that playing field, in a time efficient and fair way, so that the best vendors are chosen. The right vendor risk assessment template can be crafted to assure compliance with regulatory requirements.
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