We’re pleased to announce our latest integration with Osano, a data privacy platform that now feeds our ThirdPartyTrust platform with a privacy score. This complements other security ratings to provide a holistic view of how your organization is using third-parties and what risks they pose, thus making your third-party risk management (TPRM) strategy more powerful.
New privacy laws are introduced weekly, vendors go out of business from lawsuits every day, and companies change their privacy practices without notice. Osano monitors and alerts you to what you need to know exactly when you need to know it.
The fine print published in every website in Osano’s database is analyzed alongside other fact based signals, and a score is obtained. Each time a site makes changes to their policies, Osano will reassess the changes and update the rank as applicable.
The Scans page in our ThirdPartyTrust platform now contains Osano Privacy Score together with other third-party security information. Four key pieces of information are included:
- The privacy score
- The rating
- The impact on your privacy
- Main factors
Third-Party Risk Monitoring From a Different Angle
This integration takes TPRM a step further by looking at an organization’s outward facing stands, apart from its internal procedures for managing third-party risk. Any sort of privacy policy, cookie statement, GDPR statement, CCPA statement, security statement, security certificate, SOC2 report, or anything similar, is now scored in our platform based on a 163 question ontology Osano assesses.
The new privacy score comes from looking at every single policy, procedure and certification that a third-party company has when it comes to privacy and compliance. Osano also analyzes a vendor’s third-parties (fourth-parties) for a truly complete scan.
These insights will help organizations using the ThirdPartyTrust platform do the following:
- Looking at themselves. If your organization is trying to make sure it’s doing the right thing, Osano’s privacy score will easily tell, since it has already reviewed all key factors.
- Looking at their vendors. Your organization will better understand its third-parties’ overall security & privacy posture, not only with the score but also with quick links to all their privacy and security-related statements. It’s important to note that any sort of legal action being taken against the vendor or any changes within its policies will be detected, as Osano continuously monitors and provides details on that.
- Looking at privacy regulations around the world. Osano keeps an eye on any developing laws or regional regulation regarding privacy compliance, and makes sure organizations are up to date.
How does the privacy score fit into the overall TPRM strategy?
The new privacy score is yet another data input to have a greater understanding of the inherent risk of every third-party relationship. Are they safe to work with? Will they take care of your information? Do they care enough about your data to let you know what they’re doing with it?
Organizations with the lowest privacy scores have bigger chances of suffering a data breach. On the contrary, organizations with higher ratings are the ones who care about their customers’ data and show higher levels of transparency.
“It’s highly probable that if a company is not talking about how it handles data security, it’s because it’s not actually protecting it very well. So it really comes down to risk tolerance, internally and externally.”
Aaron Stevens, Vice President of Strategic Partnerships, Osano
“Privacy and security go hand by hand when it comes to safeguarding an organization. This new privacy rating by Osano complements our existing security ratings by BitSight, RiskRecon, Supply Wisdom, Argos Risk, and Spy Cloud, in order to drive value at every stage of the third-party assessment process”, commented Anders Norremo, CEO at ThirdPartyTrust.
If you are a ThirdPartyTrust customer, you can now benefit from this integration. If you work with Osano, then we strongly recommend you consider using ThirdPartyTrust as your go-to third-party risk management tool!
To learn more about how ThirdPartyTrust can help you streamline your TPRM program, request your free trial now:
