Product News: Software, Services
Vendor Management SaaS promotes efficiency and compliance.
Press Release Summary:
July 8, 2008 - Streamlining vendor due diligence, Trace Vendor Management consolidates vendor review and approval process with centralized vendor data, vendor maintenance, and reporting. Level of visibility helps organizations reduce risk by ensuring vendors are following proper standards, security best practices, and regulatory requirements. Via trade associations and independent verifiers, SaaS solution lets companies assess vendor risk before business relationship starts and throughout lifecycle.
Original Press Release
TraceSecurity Announces Trace Vendor Management, Comprehensive Vendor Due Diligence Solution
Press release date: June 30, 2008
Software-as-a-Service Vendor Management Solution Enables Maximum Efficiency and Helps Ensure Compliance
BATON ROUGE, La., June 30 -- TraceSecurity, a leading provider of SaaS security compliance and risk management solutions, today announced the arrival of Trace Vendor Management, a comprehensive SaaS-based vendor management solution. Trace Vendor Management enables vendor management security, compliance and best practices, while minimizing the time and cost associated with managing an effective vendor management program. It consolidates the vendor review and approval process with centralized vendor data, vendor maintenance, and reporting. With vendor visibility, organizations reduce their risk by ensuring that vendors are following the proper standards, security best practices, and adhere to regulatory requirements.
Businesses rely on an increasing number of third party vendors to deliver quality services to their customers. Oftentimes these vendors have access to sensitive and proprietary data. Therefore, companies need a comprehensive solution to streamline vendor due diligence, facilitate verification, increase operational efficiency and reduce cost. In addition, they need to ensure that vendors comply with regulatory responsibilities and best practices when dealing with sensitive information. Until now, there has not been a solution to solve these needs. By using trade associations and independent verifiers, Trace Vendor Management plays a key role across industries.
"It is imperative that businesses have a firm grasp on their vendor programs, not only to comply with regulations and security measures, but also to protect their assets and reputation," stated Jim Stickley, Chief Technology Officer at TraceSecurity. "By implementing Trace Vendor Management, companies will be able to assess vendor risk before a business relationship is started and throughout the relationship lifecycle."
TraceSecurity will launch industry specific versions of Trace Vendor Management in the near future. Interested and trade associations, third party verifiers and vendors should contact TraceSecurity immediately.
TraceSecurity is a leading provider of security compliance and risk management solutions. The company helps organizations of all sizes to achieve, maintain and demonstrate security compliance while significantly improving their security posture. Key to TraceSecurity's success is the company's comprehensive patent-pending methodology that helps clients address all of the critical components of a successful security compliance program; people, process and technology.
TraceSecurity delivers its solutions through an integrated software-as-a-service platform backed by expert professional services and comprehensive security awareness programs. The company's flagship offering, TraceCompliance Manager, is the first comprehensive solution to automate regulatory compliance audits, board level reporting, policy management, vulnerability assessment, and employee education and testing. The company's expert professional services include onsite security audits, and social engineering. The security awareness programs include an exhaustive set of standard offerings as well as custom designed courses. With over 800 clients, TraceSecurity supports the risk management and security compliance efforts of organizations in financial services, healthcare, insurance, government and other regulated sectors. For more information, please visit www.tracesecurity.com.
Note: TraceSecurity is a trademark of TraceSecurity, Inc.
CONTACT: Wendy Parish, Freestyle Public Relations, +1-515-223-4343, email@example.com, for TraceSecurity, Inc.