ThirdPartyTrust has announced that it has joined the Shared Assessments Program, the member-driven trusted source in third party risk assurance and management. In addition to its membership in the program, ThirdPartyTrust’s platform now supports the Shared Assessments Standard Information Gathering (SIG) questionnaire.
ThirdPartyTrust is modernizing the way third-party risk assessments are done for everyone. Our network-enabled solution allows companies to leverage the work of industry peers who have already reviewed common vendors.
The ThirdPartyTrust company actually started from the vendor pain point in the vendor risk management process. Strategically aligning with Shared Assessments programs and content, helps us achieve our common goals of effectively solving the problem for both sides of the equation, said Anders Norremo, CEO of ThirdPartyTrust.
Our decision to join the program allows us to leverage hard work of the Shared Assessments Program risk management professionals and also gives our customers and their vendors an opportunity to advance vendor risk assessments to a single pane of glass. They can use our platform to reduce risk across industry supply chains and collaborate with their industry peers on assessing vendors in a common network using the SIG questionnaire.
Serving information security teams in the United States and Europe, the ThirdPartyTrust vendor risk management platform solves for the industry problem. Where traditional solutions allow for reviewing vendors in a silo, using our platform and the Shared Assessments resources, teams can collaborate with industry peers on assessing vendors in one single pane of glass.
“We commend ThirdPartyTrust for licensing the Shared Assessments content to advance best practices in third party risk management and look forward to having them as a part of the program. The Shared Assessments Program Tools are developed and refined by our membership and reflect the best thinking in third party risk.”Catherine A. Allen, chairman and CEO, The Santa Fe Group, the strategic advisory group that manages the program.
ThirdPartyTrust’s membership in the Shared Assessments Program, as well as its support of other leading standards, frameworks, service partners and data security providers, highlights ThirdPartyTrust’s approach to a holistic assessment process built on modern technology.
About the Shared Assessments Program
The Shared Assessments Program is the trusted source in third party risk management, with more than a decade of developing program resources. Shared Assessments helps organizations effectively manage the critical components of the vendor risk management lifecycle that are: creating efficiencies and lowering costs for all participants; kept current with regulations, industry standards and guidelines and the current threat environment; and adopted globally across a broad range of industries both by service providers and their customers.
Shared Assessments membership and use of the Shared Assessments member-driven Program Tools offers companies and their service providers a standardized, more efficient and less costly means of conducting rigorous assessments of controls for IT and data security, privacy and business resiliency.
The Shared Assessments Program is managed by The Santa Fe Group, a strategic advisory company providing unparalleled expertise to leading financial institutions, healthcare payers and providers, law firms, educational institutions, retailers, utilities and other critical infrastructure organizations. The core of The Santa Fe Group’s belief system is that, despite how complicated the world of commerce might be, business can—and should—be a good citizen. Corporations should be built on a foundation to provide greater good to society. For more information on Shared Assessments, please visit: