Venminder, a leader in third-party risk management, announced
significant enhancements to its System and Organization Controls
(SOC) Assessment, further empowering customers to evaluate the
security and compliance of their vendors. This updated assessment
is part of Venminder's Vendiligence™ product line, providing a
thorough evaluation of a vendor SOC report and offering clear,
actionable insights into the controls vendors have in place.
ELIZABETHTOWN, Ky., Aug. 6, 2024
/PRNewswire-PRWeb/ -- Venminder, a leader in third-party risk
management, announced significant enhancements to its System and
Organization Controls (SOC) Assessment, further empowering
customers to evaluate the security and compliance of their vendors.
This updated assessment is part of Venminder's Vendiligence™
product line, providing a thorough evaluation of a vendor SOC
report and offering clear, actionable insights into the controls
vendors have in place.
This assessment is pivotal for our
customers who rely on our risk-based evaluations to determine if
their vendors are protecting sensitive information.
"Enhancing Venminder's SOC Assessment underscores our commitment
to delivering top-tier risk management solutions," stated
James Hyde, CEO of Venminder. "This
assessment is pivotal for our customers who rely on our risk-based
evaluations to determine if their vendors are protecting sensitive
information. We've made substantial improvements to ensure that
this update is thorough, straightforward, and effective."
The Venminder SOC Assessment now offers a more structured and
comprehensive review process, allowing for clear exception callouts
and enhanced control insights. This revision helps customers better
understand the effectiveness and integrity of their vendor's
control environment, leading to more informed decisions and robust
third-party risk management.
Key features of the updated SOC Assessment include:
- Comprehensive coverage provides a detailed review of the
vendor's audited control environment in scope of the SOC report,
including administrative, technical, and physical controls, in
addition to important information such as control exceptions and
resulting auditor opinion. Complementary User Entity Controls
(CUECs) are also presented to ensure your organization is aware of
your control responsibilities.
- Expert analysis is conducted by a team of certified information
security professionals, including CTPRPs, CISMs, CISAs, CISSPs,
ABCPs, and more, ensuring a deep and precise understanding of SOC
reports.
- Regulatory compliance that aligns with regulatory requirements
allows customers to map controls directly to industry standards,
laws, and regulations. (See how Venminder's SOC Assessment maps to
regulatory requirements, standards, frameworks, and laws: SOC
Control Mapping)
- A standardized approach that enables consistent review
processes for how SOC reports are reviewed and evaluated, ensuring
comparable results across all vendors.
"By expanding our control evaluations and focusing on specific
areas of risk, we've made our SOC Assessment both more rigorous and
user-friendly," Hyde added. "Our customers can now enjoy a seamless
and efficient experience, enabling them to focus on strategic
decision-making rather than getting lost in technical details."
Venminder's enhanced SOC Assessment is available directly on the
Venminder platform, allowing for seamless interoperability with all
their vendor risk management solutions. This in-app accessibility
ensures customers can effortlessly leverage their full suite of
tools. For additional flexibility, the assessment can easily be
downloaded to access offline or shared with executives or board
members, helping facilitate informed decision-making at every
organizational level.
To learn more about Venminder's SOC Assessment or to view an
interactive tour, visit:
https://www.venminder.com/product-tour/soc-assessment. For more
information about Venminder and its solutions, please visit
http://www.venminder.com.
About Venminder
Venminder is the leading provider offering a unified SaaS
platform for third-party risk management. The platform is used by
more than 1,200 customers to manage the entire vendor lifecycle,
from onboarding to offboarding, with ease and efficiency. Venminder
combines technology and human expertise to enable customers to
manage vendors, track contract data, perform due diligence and
oversight, send and score questionnaires, conduct risk assessments,
systemically monitor risks across domains, order due diligence
assessments on vendor controls, and much more. Venminder also
powers Third Party ThinkTank, the largest online community
dedicated to the practice of third-party risk. For more
information, visit http://www.venminder.com or follow Venminder on
LinkedIn, X, Facebook, and YouTube.
Media Contact
Venminder Media Team, Venminder, (888) 836-6463,
media@venminder.com, www.venminder.com
Twitter
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SOURCE Venminder