Privva’s Vendor Security Assessment

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Additional Info

Company (that provides the nominated product / solution / service)Privva, Inc.
Company size (employees)1 to 9
Type of solutionCloud/SaaS

In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:

- Privva clients have the ability to leverage data to develop an auditable and contractible repository of risk information providing valuable insight into third-party vendor cybersecurity risks.
- Privva’s Risk Mitigation Tracking allows users to identify, communicate, and track potential risks and vulnerabilities
- Cloud-based solution enhances workflow for enterprise and vendors resulting in cost and time saving – 52% cost saving for leading law firms

Brief Overview

Privva’s Vendor Security Assessment centralizes security questionnaires, risk ratings and scoring of responses for third-parties that have access to enterprise networks or sensitive data. Through the use of Privva’s workflow and templates, the time it takes to assess a vendor is reduced by 75%, and annual recertification can be automated.

Privva’s three-step process creates a streamlined solution for our clients, continuously ensuring that best practices are met.

Create proprietary assessments to meet your firm’s policies and risk threshold
Distribute assessments to vendors, simplifying workflow and tracking completion progress through final submittal
Analyze responses with advanced reporting and dashboards, benchmarking vendors to identify greatest threats

Centralizing risk metrics on the Privva platform creates a more efficient and accessible data set to ensure compliance and identify best practices.

– Ask vendors the right questions based on their criticality to your business
– Request vendors to upload supporting documentation to validate responses
– Score the results using a color-coded rating scale to easily identify areas of high risk
– Automate reassessment of vendors to ensure ongoing compliance

Privva makes the process easier, faster and more transparent for its clients while making the process simple for the vendors as well.