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EMA Impact Brief
Prevalent Brings Vendor Risk Assessment to SMB Suppliers With DatumSec Buy
Date: 06/29/2017 Length: 3 pages Cost: $25.00

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Abstract:
In June 2017, Prevalent announced the acquisition of DatumSec, adding an automated tool to its portfolio that enables customers to economically bring third-party risk assessment to SMB suppliers. The DatumSec Cyber Risk Assessment tool is designed to automate evidence collection so small, third-party suppliers with limited IT resources can conduct a cyber risk assessment for larger customers. The third-party risk assessment market has been quickly gathering steam over the last three to four years. Both the Target and Sony breaches in 2014 were traced back to third-party vendors, focusing attention on how vendors can positively or negatively impact companies of any size, bringing vendor risk management into the boardroom. One recent study estimated that as much as 63 percent of breaches can be attributed to third-party vendors. The simultaneous burgeoning movement to outsource a range of workloads to third parties (including public cloud) is driving the need to ensure adequate controls exist to protect those workloads, shining a regulatory spotlight on the third-party risk environment.

Prevalent moved to address this issue by creating its Vendor Risk Management (VRM) platform with both vendor assessment modules and continuous threat monitoring software. Prevalent delivers evaluation, analysis, and assessment for every step of an organizationís vendor risk management process. VRM enables customers to do much more with the sameñor fewerñresources.
Author:

Paula Musich


 




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