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Retailers around the world outsource key operations to service providers. However, this creates significant risks when those operations involve payment processing.

Many organizations struggle to vet their third parties, and often have little insight into which vendors are in use, what data is involved, and how third parties are using it. And without automation, assessments go unfinished and records are often lost in out-of-date spreadsheets and buried in email.

New and existing regulations, standards, and frameworks, as well as third-party data breaches, have challenged organizations to take a more focused approach to maintaining ongoing oversight and reducing third-party risk.  To enable productivity, business leaders want technologies and resources in their employees’ hands as fast as possible. Yet this is at odds with the time it takes to perform proper due diligence and mitigate undue risk.

In working with more than 3,000 companies across  their privacy and security compliance program,  we’ve  heard one question more than any other: “How do I keep my data map up to date?”  To overcome this challenge, OneTrust Data Inventory & Mapping technology integrates with the OneTrust Vendorpedia platform to automate record keeping.