Information Security Due Diligence

Blog post CENTRL 2016-05-11

From recent data breaches to increased regulation, conducting information security due diligence on your partners has become a requirement in today’s changing world. It has become an unfortunate fact of life that an outdated vendor management system exposes your firm to new opportunities for cyber threats and attacks.

To address these risks, firms must maintain a well-designed diligence process to continually improve policies and procedures. Companies that fail to properly assess their data security framework overlook critical security gaps that impact the safety of sensitive and confidential data. Vital to maintaining the integrity of the data security framework, firms must continually conduct assessments. However, the assessment process can take a considerable amount of time and effort. It also introduces issues of how to organize the myriad of documents associate with assessments, issue resolutions and communications between you and your partners.

Finding an affordable yet robust solution to easily conduct a scalable, repeatable and easily managed information security diligence process can be difficult. Some companies use their own security assessment templates or an Excel or Word questionnaire and get entangled in an arduous manual process. To remedy these inefficient processes, companies often think they need to purchase expensive and complex vendor management solutions but thankfully there are less complicated solutions.

CENTRL offers an efficient, automated and affordable way to easily manage information security due diligence with your partners.

Automating information security due diligence

With CENTRL’s Assess360, you can start by using a standard information security questionnaire template from our library or upload your own Excel or Word checklist or assessment. Our platform guides you through the entire process, including status monitoring, advanced analytics and reports. You can easily compare different time periods, different vendors or even groups of vendors. The most unique aspect is that you and your technology partners use the same CENTRL application. The result is one, cohesive set of documents (plus there is no cost for the third party to use the platform), saving both you and your partners aggravation, time and money.

Advanced monitoring and remediation ability

Also included in the platform are grading scales, audit trails and a wide array of reports including analytics, comparison and monitoring tools so you know the status of your InfoSec assessments at any time. If a potential problem arises, you can easily identify, separate and manage the issue directly with your partner. You can even track remediation of issues and collaborate with your partners to address the issue. The collaboration feature also allows you to document, in context, all communications. Beyond the collaboration functionality, different risk levels can be created to automatically grade the questionnaires. If you want to spend more time to spend reviewing your results and less time on the process then take a closer look at our platform.

Get more information on Assess360, or request a demonstration and see for yourself how CENTRL can help you improve your information security due diligence process

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