What Is A Vendor Management Policy?

A vendor management policy provides a clear, consistent set of security requirements for all third-party business partners, including vendors, service providers, and contractors. An effective policy also includes guidelines for monitoring the security posture of all connected parties. This helps ensure continued compliance with the policy.

Such a policy is an essential element of your business’ cybersecurity management and risk assessment efforts. Your company’s vendor management policy should also align closely with the security requirements of SOC 2 compliance. Some companies may insist upon SOC 2 compliance as part of their vendor management policies.

How Trustero Can Help

Trustero Compliance as a Service (CaaS) is cloud-based, easy-to-use compliance automation software. It is designed to simplify SOC 2 audit readiness and enable continuous compliance. And since SOC 2 compliance requires effective vendor management, achieving and sustaining compliance with SOC 2 can help ensure the effectiveness and consistency of your vendor management.

The Trustero solution integrates with leading Software as a Service (SaaS) tools and platforms. Built-in receptors ease and speed collection and integration of evidence from connected third-party resources. Trustero CaaS also constantly monitors your technology infrastructure and compliance status. In addition, it can automatically notify administrators of non-compliant events. This can help administrators quickly isolate problems and suggest effective remediation measures. To support pursuit of continuous compliance, the Trustero solution can produce reports on the status of your technology landscape, regularly and on demand.

These and other features can help support and enforce your vendor management and strengthen your vendor assessment program as well. Continuous monitoring and automated notifications keep your entire infrastructure compliant, and help resolve issues quickly. And regular and on-demand reporting keeps your stakeholders informed of the status and effectiveness of your vendor assessment, vendor management, and continuous compliance policies and practices.

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