Inconsistent Risk Management
The client evaluated multiple vendors before selecting us for the project. However, vendor assessment and evaluation took too much time and effort. With the lack of automation in the collection and analysis of vendor surveys, the process was cumbersome and manual. But ultimately, we were selected for CIS Top 20project for the client because of our long-standing relationship and approach to the overhaul of security standards.
One of the biggest challenges at hand was centralizing third-Party risk management functions. The customer worked with multiple vendors and third-party service providers and was looking to extend the CIS standards to those relationships and transactions. One of the goals of this entire exercise was minimizing inconsistent vendor risk management methodologies.