Vendorpedia & BitSight Third-Party Risk Management (TPRM) Partnership
Customers around the world use OneTrust Vendorpedia and BitSight to understand the risks associated with their vendors, suppliers, and other third parties. Together, the two platforms empower third-party risk teams with better vendor visibility, enhanced monitoring capabilities, and increased automation throughout the third-party risk management lifecycle.
Today, Vendorpedia and BitSight have entered a partnership to expand the existing integration with new capabilities, as well as collaborate to continue to provide functionality that meets the evolving third-party risk management needs of our joint customers.
Learn more about the Vendorpedia and BitSight partnership at RSA USA, taking place February 24-28 in San Francisco:
- – Visit BitSight booth #1167 and Vendorpedia booth #5470
- – Join our theater session: “Understanding and Automating the Third-Party Risk Management Lifecycle” at 1:30-2:00 pm PT each day at booth #1167
With increasing reliance on outsourcing operations to third parties, organizations are struggling to vet, manage, and monitor the vendors they rely on most. As a result, many organizations are turning to third-party risk software and security rating solutions to identify risky vendors, implement controls, and demonstrate compliance without hampering employee productivity.
In short, Vendorpedia and BitSight work in tandem to help organizations understand if their vendors are safe to do business with. Key capabilities of the integration include the ability to sync vendors between the two platforms. In addition, when BitSight Security Ratings reach a defined threshold, Vendorpedia can:
- – Create a New Risk
- – Trigger an Automated Assessment
- – Kickoff an Incident Response Workflow
- – Notify Key Stakeholders via Email
- – Update Your Vendor Inventory
Dave Fachetti, EVP of Strategy for BitSight, explains the value of the BitSight and Vendorpedia partnership: “As gaining a more current and broader understanding of Third-Party Cyber Risk continues to rise on the agendas of not only senior Security and Risk Executives but also the broader Executive team and Board of Directors, bringing solutions like OneTrust’s Vendorpedia and BitSight’s Security Ratings together in a more tightly integrated way brings significant value to companies looking to effectively and efficiently understand and manage this critical risk. We are excited to be working with OneTrust to bring this combined solution to our joint customers.”
This new partnership between two industry leaders brings significant value to Vendorpedia and BitSight customers. As Blake Brannon, CTO for OneTrust explains, “We are thrilled to announce this partnership between OneTrust’s Vendorpedia solution and BitSight. This integration and the innovative functionality will enable our joint customers with the tools they need to succeed when managing security, privacy, and third-party risks.”