Vendor Management Information and Compliance
It has never been so important to ensure that you are managing your vendors in a proactive way.
Is your business regulated ? Do you have to report and respond to the SEC ? CFTC ? FINRA ? OCC ? NCUA ? FDIC ? CFPB ? OSHA ?
The list of regulating bodies is long and the laws are arduous. If you have a data breach into your systems and your customers information is taken from one of your vendors databases you can be held liable. At the very least you need to appoint a compliance officer and give them the tools to be able to manage vendor compliance – we have those tools.
The recent hacks we read about in the news have exposed weaknesses not just in the companies that were hacked but also the vendors that supply those companies.