Organizations live and operate in an interconnected business environment. The security of your organization is not solely dependent on your internal measures. Every vendor you engage with can either bolster your defenses or expose you to significant risks. The potential consequences of a vendor-related security breach can be devastating, impacting not only your organization but also your customers. This is why it is imperative to have an effective vendor risk assessment plan.

Act before it’s late

Vendor risk evaluation is a crucial aspect of a robust security strategy. When even one vendor is compromised, the ripple effects can lead to data breaches, financial losses, and reputational damages. The attack surface expands as businesses increasingly rely on third-party services, making it vital to understand and mitigate these risks early on before they become vulnerabilities.

Stay ahead of emerging threats

HITRUST offers robust solutions to identify and address security gaps for efficient vendor risk assessment. The HITRUST framework stands out due to its cyber threat-adaptive nature. It harmonizes best practices from more than 50 standards, frameworks, and regulations to address all 19 domains of security and risk management.

The HITRUST CSF is a universal, living framework, unlike most compliance frameworks that are updated every three to four years. It is continuously updated and published regularly for constant cyber threat management.

HITRUST uses threat intelligence data to identify new threats and mitigate them. HITRUST’s proactive approach ensures that your organization and its vendors are assessed against the latest cyber threats, offering optimal risk management. HITRUST enables businesses to be proactive rather than reactive, providing a significant advantage in the ever-evolving threat landscape.

Learn how HITRUST stays agile in cyber threat management with its cyber threat-adaptive framework.

Leverage HITRUST assessments for diverse needs

HITRUST understands that one size does not fit all. You may be working with a vendor that’s a newbie in the business and another one that’s a veteran. HITRUST offers three distinct assessment options — e1, i1, and r2 — catering to organizations of different sizes, needs, and risk profiles.

e1 is best suited for vendors that are new or small, possess limited risks, or are looking to achieve a milestone on their journey to a more robust certification. r2 is HITRUST’s most comprehensive security certification perfect for vendors that need to establish the highest level of trust. i1 serves as the ideal bridge between e1 and r2 for service providers with medium risk profiles. Vendors can also move from one assessment type to the other without losing previous work.  

These assessments provide the right type of security assurance, helping organizations to evaluate vendor risks meticulously. HITRUST assessments ensure that all vendors meet stringent security standards.

Build trust and foster strong business relationships

HITRUST helps you reduce the complexity and cost of vendor risk management by streamlining the assessment process and eliminating the need for multiple audits and questionnaires. It improves the transparency and accountability of your vendors. It boosts the confidence and satisfaction of your customers by demonstrating that you and your vendors are committed to protecting their data and privacy.

Beyond security assurance, HITRUST helps organizations and vendors to build trust and establish strong business relationships. It empowers you to foster a secure and trustworthy business environment by ensuring your vendors adhere to high security standards. This mutual trust is essential for long-term success and resilience against cyber threats.

Evaluating vendor risks is not just a best practice; it is a necessity in today’s digital age. HITRUST assessments provide a comprehensive, adaptive, and proactive approach to vendor risk management. Leverage HITRUST’s tailored assessment options to ensure robust security, build trust, and protect valuable data and reputation.

Don’t wait for a breach to occur — evaluate your vendor risks now and secure your organization’s future.