Software

Gain a 360-degree view of third-party risk by using our SaaS software to centralize, track, automate, assess and report on your vendors. 

Managed Services

Let us handle the manual labor of third-party risk management by collaborating with our experts to reduce the workload and mature your program. 

Overview
Document Collection
Policy/Program Template/Consulting
Virtual Vendor Management Office
Vendor Site Audit

Ongoing Monitoring

Let us handle the manual labor of third-party risk management by collaborating with our experts.

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As Venminder completes assessments for clients on new vendors, they are then made available inside the Venminder Exchange for you to preview scores and purchase as you need.

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Use Cases

Learn more on how customers are using Venminder to transform their third-party risk management programs. 

Industries

Venminder is used by organizations of all sizes in all industries to mitigate vendor risk and streamline processes

Why Venminder

We focus on the needs of our customers by working closely and creating a collaborative partnership

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Sample Vendor Risk Assessments

Venminder experts complete 30,000 vendor risk assessments annually. Download samples to see how outsourcing to Venminder can reduce your workload.

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Resources

Trends, best practices and insights to keep you current in your knowledge of third-party risk.

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Earn CPE credit and stay current on the latest best practices and trends in third-party risk management.  

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Join a free community dedicated to third-party risk professionals where you can network with your peers. 

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Venminder Samples

Download samples of Venminder's vendor risk assessments and see how we can help reduce the workload. 

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State of Third-Party Risk Management 2023!

Venminder's seventh annual whitepaper provides insight from a variety of surveyed individuals into how organizations manage third-party risk today.

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VENDILIGENCE™

Business Continuity & Disaster Recovery Assessment

Our Business Continuity & Disaster Recovery Assessment (BCA) dives into your vendor's business continuity and disaster recovery readiness, checking whether disruptions in their operations could ripple into your business workflow. With a team of experienced professionals, Venminder assesses your vendor's strategic measures to face unforeseen events, providing a high-level and detailed view of potential risks. This assessment reviews recovery plans and data backup so you can proactively identify potential gaps and take the necessary countermeasures.  

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PRODUCT TOUR

See it in Action: Take a tour of the Point-in-Time Cybersecurity Assessment now

Outsourcing this crucial review to Venminder means obtaining a clear picture of your vendor's or supplier's cybersecurity readiness level, helping you to identify areas of strength and weakness, ensuring secure and robust relationships.


Most Commonly Used For:
Technology Suppliers, Data-Handling Vendors, and SaaS Providers

Take the BCA Tour

Pinpoints areas where vendors or suppliers may not be prepared for the unexpected

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Business Continuity Overview

We provide an insightful review of your vendor's documented Business Continuity and Disaster Recovery Plans. This overview examines your vendor's managerial oversight, whether there is a dedicated continuity team, and plan scope. It also determines their readiness for pandemic preparedness and a summary of their process for service interruption or degradation, offering a valuable view of whether they are setup to ensure uninterrupted operations amid unforeseen events.  

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Business Continuity Testing  

We evaluate your vendor's approach to testing their Business Continuity and Disaster Recovery plans. We provide the frequency of their tests and the robustness of alternative arrangements like remote work capabilities and secondary data centers. Our expert scoring system reflects the effectiveness and comprehensiveness of a vendor’s testing, helping to provide a clearer understanding of their readiness during real-world disruptions. 

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Business Impact Analysis

We evaluate your vendor's process of analyzing the operational impacts arising from various interruption scenarios. This domain zeroes in on their Recovery Time Objectives (RTO) and Recovery Point Objectives (RPO), assessing how well they meet these objectives. Our analysis illuminates the resilience of their operational frameworks in facing adversities, facilitating a better understanding of potential risk and preparedness.

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Backup Management

We review your vendor's data resiliency measures with a keen focus on backup protocols for both primary and alternate sites. This risk-domain explores backup frequency, offsite/offline backup procedures, and the testing of these backups. Our scoring reflects the effectiveness of their data resiliency strategies and alert systems for backup failures, ensuring you understand how your vendor is safeguarding your crucial data.

Gain a valuable lens into the overall robustness and resilience of your vendor's or supplier’s technological infrastructure and processes

Navigate Disruptions and Unlock Vendor Resilience

Unexpected business disruptions are an inevitable part of today's dynamic market landscape – whether it's a pandemic, a cyberattack affecting a supply chain, or natural disasters like floods and earthquakes causing dangerous working conditions or employee displacement. These disruptions can range from temporary suspension of core operations to the necessity for a complete business model overhaul. Controlling these events is out of reach, but planning for them is within grasp. Unfortunately, vendors' resilience strategies often fall short compared to businesses' internal plans, creating potential gaps and vulnerabilities in the overall operational framework. 

Addressing unforeseen disruptions requires insight into your vendor's resilience strategies. Our BCA offers a clear view of your vendor's continuity and recovery plans, aligning with industry best practices to identify potential operational vulnerabilities. With the insights from our BCA, you can ensure your vendor's strategies are robust, aligning with your operational planning, and better prepare your organization to navigate the challenges that market disruptions bring. Harness these insights to take a proactive step towards achieving operational reliability amidst increasing disruptions.

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Leverage Expertise and Save Valuable Time

The task of pursuing vendors for essential documentation to validate business continuity plans can be a daunting and time-consuming endeavor. The challenge amplifies when the documents in question require a specialized level of expertise for review. The continual screening of vendors' continuity and recovery strategies, particularly when engaging with multiple third-party vendors, compounds the intricacy of the task at hand. 

With Venminder, you can offload the cumbersome task of sifting through mass amounts of documentation on your vendor’s continuity and recovery strategies. Our seasoned team and advanced solutions provide a much-needed expert review and evaluation of your vendor’s processes. Our BCA frees up your team in order to accelerate the decision-making process, enabling a swifter screening and evaluation of vendors. In addition, our Flexible Spend Account and additional services ensure that your team can continually focus on crucial strategic directions, all while staying compliant with regulations requiring a thorough look at business continuity plans. By leveraging our expertise, you regain the time, focus, and resources to propel your operational objectives forward.

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Standardized Assessment, Simplified Comparisons

Establishing a consistent review method for your vendors can be a challenging undertaking, especially in a landscape where regulatory bodies frequently introduce new requirements. Ensuring that your review processes align with both regulatory and industry standards further compounds the complexity. The assessment of your vendor’s continuity and recovery strategies is an added demand, which becomes even more intricate when dealing with multiple third-party vendors. The continuous cycle of review and continued due diligence demands a structured yet flexible approach to ensure compliance and operational resilience. 

Venminder's structured approach streamlines vendor risk assessments, ensuring consistency at scale. Our standardized set of questions aligns with regulatory and industry standards, facilitating easy comparisons between vendors. Beyond a checklist, we delve into key areas of your vendor's business continuity practices. Our Control Assessments, available to order when needed and viewable directly on the Venminder platform, culminate in a risk heatmap view, simplifying cross-vendor comparisons at a glance. This powerful heatmap gives you clear insights into vendor preparedness, aiding in effortless navigation through regulatory requirements while keeping a pulse on vendor resilience at scale. 

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How it works

STEP 1

Alleviate the burden of chasing for business continuity & disaster recovery plans

Venminder’s team directly works with your vendor or supplier to collect the numerous technical documents needed for a qualified and comprehensive assessment of their business continuity and disaster recovery prepardness. 

STEP 2

Assessed by experienced professionals

Venminder’s experienced professionals thoroughly review the evidence to assess whether your vendor or supplier has implemented the industry standard and regulatory requirement processes that should be in place to avoid disruptions that could ripple into your business workflow. 

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STEP 3

Streamlined Business Continuity Prepardness Evaluations

You receive an easy-to-understand risk assessment on your vendor or supplier's business continuity and disaster recovery prepardness that is available on the Venminder platform and as a downloadable PDF, our reports are easy to understand and are perfect for internal sharing, review, and decision-making.

STEP 4

Improve risk-based decisions with the right insights

You and your organization’s decision-makers can now make an informed choice about any risks presented by the vendor or supplier and whether you need to take action in addressing potential gaps and take the necessary countermeasures.  

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Discover why Venminder
is top-rated by customers

Know if vendors and suppliers are in compliance with
industry guidelines, frameworks, standards and laws

  • FFIEC
  • hippa
  • nist
  • canda osfi
  • european union gdpr regulation
  • fdic
Technology Standards and Frameworks

AICPA Trust Services Criteria​

ISO/IEC 27001:2022​

NIST Framework for Improving Critical Infrastructure Cybersecurity version 1.1​

NIST SP 800-53 Rev. 5 Security and Privacy Controls for Information Systems and Organizations​

NIST SP 800-63b Digital Identity Guidelines​



 

Regulations, Statutes, and Laws

California Consumer Privacy Act​

California Privacy Rights Act​

Canadian Personal Information Protection and Electronic Documents Act​

China Personal Information Protection Law​

Colorado Privacy Act​

Connecticut Data Privacy Act​

EU General Data Protection Regulation​

Health Insurance Portability and Accountability Act​

Interagency Guidelines Establishing Information Security Standards​

Interagency Guidance on Third-Party Relationships​

New York Department of Financial Services - 23 NYCRR 500​

Industry Guidance

Center for Internet Security – Critical Security Controls v8​

FFIEC IT Examination Handbook – Audit Booklet

FFIEC IT Examination Handbook – Business Continuity Booklet​

FFIEC IT Examination Handbook – Management Booklet​

FFIEC IT Examination Handbook – Operations Booklet​

FFIEC IT Examination Handbook – Outsourcing Technology Services​

FFIEC IT Examination Handbook - Wholesale Payment Systems Booklet​

FINRA Report on Cybersecurity Practices​

OCC 2021-36 Authentication and Access to Financial Institution Services and Systems​

SEC Regulation SCI reference to NIST 800-53 Rev. 4​

Learn about the regulations, standards, guidelines, and laws, that our Business Continuity and Disaster Recovery Assessment maps to here >

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Free Sample

Business Continuity & Disaster Recovery Assessment

Get a sample copy of this risk assessment to see how Venminder can reduce your work and help you identify potential gaps at your vendor before they disrupt your business or your customers.

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