SIG Integration Reduces Time-to-Value For Enterprises and Their Vendors
Privva, a leading third-party risk management platform, announced it has extended its relationship with Shared Assessments to offer the Shared Assessments Standard Information Gathering (SIG) questionnaire to include the 2020 version. Privva makes vendor risk management easy, utilizing a standardized questionnaire that covers industry-accepted best practices across controls related to cybersecurity and risk management including but not limited to cloud security, privacy, business continuity, and disaster recovery.
“Privva’s goal is to reduce challenges faced by all stakeholders in the third party risk management process. Scalable distribution to vendors, real-time tracking of vendor progress, and automated scoring with the standardized content will reduce the headache of the security assessment process,” said Ishan Girdhar, CEO of Privva. “We want to make our clients and vendors job easier so they can go home a little earlier. The partnership makes this a reality”.
Shared Assessments is a member-driven organization uniquely positioned to develop standardize resources that help organizations manage the full lifecycle of a third-party relationship, from planning for third party engagement, to due diligence and vendor selection, contract negotiations, ongoing and continuous monitoring and termination. The SIG questionnaire provides an inventory of industry standard questions for the remote assessment process that allows an organization to scope initial assessment information regarding a service provider’s controls.
“We commend Privva for taking the step to incorporate the latest version of the Shared Assessments standardized tools into their platform.” Said Catherine Allen, CEO of Shared Assessments. “ This shows a commitment to their customers’ third party risk management assurance. Standardization and diligence in third party risk is what will move this field forward.”
Privva currently offers the 2019 SIG with the 2020 SIG officially being released on November 19, 2019.
Privva is an award-winning, cloud-based vendor risk assessment platform delivering value for a diverse customer base across industries including legal, financial services, technology, healthcare, education, and media. The most flexible platform in the market, Privva’s solution streamlines the assessment process from authoring to automatic recurring delivery. Developed with a philosophy that risk is contextual, Privva’s adaptable features enable a tailored approach to assessing risk with an intuitive user interface that drives a responsive experience throughout the process. Privva’s Vendor Security Assessment offering centralizes security questionnaires, risk ratings and scoring of responses for third-parties that have access to enterprise networks or sensitive data. Through the use of Privva’s workflow and templates, the time it takes to assess a vendor is reduced by up to 75% and annual recertification can be automated. For more information, visit www.privva.com or schedule a demo at www.privva.com/demo.