Optiv Security Announces Next Generation of Third-Party Risk Management Platform Evantix
November 30 2016 - 11:05AM
Business Wire
-- Evantix 5.0 Helps Organizations Better Scale
Third-Party Risk Management Programs, Improve Visibility Into Risk
Assessment Lifecycle and Track Remediation Issues --
Optiv Security, a market-leading provider of end-to-end cyber
security solutions, today announced the availability of Evantix
5.0, a major update of its proven Software-as-a-Service-based
third-party risk management platform.
Optiv Evantix 5.0 is a fully integrated platform that helps
organizations identify and manage inherit and residual risk
associated with their third parties. The platform was built to
allow organizations to more effectively and efficiently scale
third-party risk management programs; monitor the risk assessment
lifecycle of vendors, suppliers and business associates; and open
and track remediation issues associated with those third parties.
As a result, Evantix 5.0 helps organizations reduce costs and
improve efficiencies associated with managing third-party risk.
“Enterprises rely heavily on their third parties to be
successful, but managing risk associated with those external
entities can be complicated and costly to businesses,” said James
Christiansen, vice president of information risk management for
Optiv. “Optiv’s Evantix platform expertly identifies and measures
third-party risk by assessing relationship risk, business profile
risk and control risk. The platform’s newest generation enables
companies to shift the most time-consuming, costly and repetitive
risk assessment activities back to suppliers, freeing organizations
to focus on remediation, mitigation activities and other strategic
initiatives.”
Optiv Evantix 5.0 was designed to help third-party risk
management teams better manage their third-party portfolio across
multiple companies, departments and users through consistent
policies and processes. The platform’s key features include:
- A Customizable Dashboard – The
platform offers a rich HTML interface, dynamic information tailored
to meet user needs and a completely customizable dashboard that
allows individuals to select the appropriate graphs and terminology
that aligns with their business. These features combined with
enhanced reporting capabilities offer organizations an intuitive
and easy-to-use platform that enables quick decision-making related
to third-party risk issues.
- Portfolio Management – Evantix
can help organizations manage hundreds, to hundreds of thousands of
third parties that interact with the company, providing the ability
to quickly scale programs as needed. The platform helps inventory
third-party relationships into a risk register allowing users to
easily navigate and manage by applying filters and tags.
Batch-upload functionality helps users easily upload thousands of
vendors, suppliers or business associates into the platform so
organizations can start the assessment process quickly.
- Assessment Management – This
feature provides an “at-a-glance” view of in-progress and completed
third-party risk assessments. Within Evantix, users simply
categorize and launch assessment activity directly to the third
party for completion and tracking. Organizations can access a
collection of control models and choose a framework from industry
standards such as National Institute of Standards and Technology
(NIST), International Organization for Standards (ISO) and Shared
Assessments. Delegation and auto account provisioning functionality
for third-party and fourth-party contacts limits time spent
creating accounts or the risks posed by sharing accounts.
- Validation Management – A fully
integrated validation capability within the Evantix platform and
workflow enables organizations to delegate multiple
qualified individuals to validate third parties’ responses to
risk assessment questionnaires completed via the platform’s online
portal. Alternatively, if a client lacks resources to manage the
validation process or prefers to outsource that capability to focus
on more strategic efforts, Optiv provides comprehensive integrated
services tailored to industry standards.
- Remediation Management – After
completing validation activities, organizations can use the Evantix
platform to help identify issues with third parties and build a
remediation plan. Within the platform, clients can create and
assign issues requiring remediation, communicate directly with
third-party associates to negotiate remediation tactics and track
progress to completion through Evantix’s automated logging
platform.
- Renewal Management – To address
challenges with managing the lifecycle of a third-party risk
management program, Evantix allows for scheduled or on-demand risk
assessment renewal alerts. This reduces the burden on the
organization to track necessary assessment renewal timelines for up
to hundreds of thousands of third parties, and offers those third
parties the ability to provide updates rather than complete the
entire assessment from scratch.
Optiv’s suite of third-party risk management solutions help
organizations effectively plan, develop and manage third-party risk
programs. Optiv’s comprehensive solutions enable organizations to
operationalize their third-party risk approach no matter the
maturity of their program and regardless of where the
responsibility falls within the organization. These capabilities
also help manage to the regulatory requirements and compliance
standards relevant to the client’s industry.
About Optiv SecurityOptiv is a market-leading provider of
end-to-end cyber security solutions. We help clients plan, build
and run successful cyber security programs that achieve business
objectives through our depth and breadth of cyber security
offerings, extensive capabilities and proven expertise in cyber
security strategy, managed security services, incident response,
risk and compliance, security consulting, training and support,
integration and architecture services, and security technology. A
Blackstone (NYSE: BX) portfolio company, Optiv maintains premium
partnerships with more than 350 of the leading security technology
manufacturers. For more information, visit www.optiv.com or follow
us at www.twitter.com/optiv, www.facebook.com/optivinc and
www.linkedin.com/company/optiv-inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20161130005881/en/
Optiv SecurityLauren Howe,
443-519-5455lauren.howe@optiv.comorJason Cook,
816-701-3374jason.cook@optiv.com
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