Third Party Cybersecurity is Becoming a Top Priority

Preventing the theft of sensitive information from third party systems and personnel is becoming a top priority at companies, particularly financial institutions whose regulators are holding them accountable for their third parties’ information security (InfoSec) practices. News of cybersecurity breaches travel quickly through social media and can severely damage a company’s reputation. Third parties handling sensitive information must demonstrate that they have the safeguards in place to keep the data secure.

 

Hiperos 3PM Information Security

Hiperos 3PMTM Information Security enables customers to segment third party vendors based on the type and criticality of their services to determine the level of assessment required, assign relevant controls according to the data and systems they touch, gather vendor due diligence questionnaire responses and supporting documentation as well as vendor system security intelligence as evidence for the assessment of control effectiveness, assess the design and operational effectiveness of each vendor control, prescribe remediations for ineffective controls and report residual risk.

Benefits

  • Accelerate & simplify processes
    • Segmentation
    • Control scoping
    • Collection of documentation
    • Risk assessment
    • Remediation
    • Continuous risk monitoring
  • Minimize inconsistencies & manual errors
  • Improve data visibility
  • Less administration; more time to focus on assessments & remediations
  • Single, actionable and reportable record
  • Reduce costs
  • Mitigate vendor cyber risk exposure
  • Better meet regulatory requirements