Third-Party Management
Third-party assessments play a crucial role in ensuring the reliability and effectiveness of GRC (Governance, Risk, and Compliance) applications. These assessments involve the evaluation and examination of the applications by external entities or organizations such as Virtual GRC. It provides an independent and unbiased review of the GRC application's functionality, security, compliance, and overall effectiveness. With the increasing complexity of regulatory requirements, it has become essential for organizations to invest in reliable risk management software and undergo third-party assessments to validate their compliance efforts. These assessments not only help in identifying any gaps or weaknesses in the GRC application but also provide valuable insights for improvement. Therefore, organizations must prioritize third-party assessments as a part of their risk management strategy to ensure the trust and confidence of their stakeholders.
Features:
Tracking Vendors Identify and track all vendors and third parties that are integral to you and your organization. Identification is an important part of Vendor management as it allows you to identify your vendors and what services they provide.
Questionnaire Process Create questionnaires or use one of our preloaded templates; Infrastructure, Physical and Data-Center Security and Privacy, and Web Application Security questionnaires; we support Standardized Information Gathering Questionnaire and the 2018 Vendor Security Alliance Questionnaire.
Vendor Management Manage Vendor and Third-Party contacts in one place. Keep track of key personnel and work with the right people to get the information you need.
AssessmentsEasily send your vendors, third parties, and employees invitations to complete security questionnaires and provide supporting documentation and evidence. Simplify your workflows and reduce risk, use VGrc to manage your questionnaires.
Benefits:
Identify Vendor Risk Knowing how vendors or stakeholders handle our organization's data to identify risk and methods holds with them.
Centralized Vendor Information EEasily manage all vendor's data in a single record, can track risk level, Questionnaire can respond back on same with comments and attestation.
Compliance People must be equipped with technology that enables them to tackle compliance efficiently, saving your organization time and money. VGrc enables you to easily share the burden across your enterprise and empower collaboration of cross-functional teams. Make sure everyone who needs to be involved is.
Continuous Process Workflows help you collect and automate compliance, improving disconnected processes. workflows, ensure the reviews are performed and show auditors proof of continuous improvement as controls are added.