- Company (that provides the nominated product / solution / service): Ostendio
- Website: https://www.ostendio.com
- Company size (employees): 1 - 9
- Product Version Number: 2.5
- Type of solution: Software
- Year this product or service was first introduced to the market: 2014
- Year the current version of this product or service has been released: 2016
- Approximate number of users worldwide: 2000+
In 3 bullets, summarize why this product or service deserves recognition:
• Helps digital health companies develop and manage a robust information security and compliance program to ensure that the company is always audit ready. As the product is very cost-effective, smaller companies can afford to use the solution to demonstrate to larger entities that they can be trusted to reliably protect data.
• MyVirtualComplianceManager (MyVCM) assesses and identify gaps as part of a comprehensive risk management strategy. The workflow solution manages the entire cyber security and risk management process for clients.
• Use to demonstrate real-time compliance to employees, partners, customers and other relevant stakeholders. Companies using MyVCM enjoy complete transparency as they can see what training has been completed by employees, request e-signatures on documents and see what outstanding compliance tasks remain.
In less than 300 words, summarize the most important features and benefits of this product or service
Ostendio is changing the way companies manage their cyber security, risk
management and compliance programs. Ostendio’s SaaS based MyVirtualComplianceManager (MyVCM) solution makes it simpler and more cost effective for companies to both manage and demonstrate compliance to industry standards and regulations, on a real-time basis.
MyVCM is a true workflow manage solution that automates the Cyber
Security and Risk Management process across the entire workforce, as
opposed to being a simple reporting tool for the security team.
Ostendio launched the first version of the product, MyVCM on March 1, 2014. Today, the company has grown quickly to approximately 60 customers. Currently, nearly 10,000 compliance activities are processed monthly through the platform. A wide range of customers (including leading healthcare providers, digital health companies and medical device manufacturers) all share the need to demonstrate that they have a robust cybersecurity and risk management program.
As part of the platform, Ostendio has created an innovative Trust Network which allows health systems and digital health companies to securely share compliance information in real time, reducing compliance burden while improving security and reducing risk. The ability for companies on the Trust Network to benchmark against peers is an unique product differentiator.
Operating in the fast growing GRC market, Ostendio is initially focused on disrupting the digital health space due to the increased attention on cyber security and the recent rise in federal enforcement. Another distinguishing feature of the product is that it is regulation agnostic, so companies can use the solution to be compliant with multiple regulations including HIPAA/HITECH, FDA, NIST, HITRUST and PCI.