Results Distribution System innovation enables better management of vendor risk
May 24, 2022 – Frisco, Texas – Today, HITRUST is announcing the general availability of the HITRUST Results Distribution System (RDS) to make it easier and more efficient to collect, inspect, export, and act upon findings in a third-party information assurance report.
The current system of sharing and consuming third-party assurance reports is antiquated and highly inefficient. Vendor risk managers are encumbered with mundane and time-consuming tasks in reviewing existing reports to identify relevant information and, in many cases, are unable to capture information into a third-party risk management (TPRM) system for tracking and further analysis.
“Today we receive assessment reports in PDF format and dedicate a significant amount of resources to collecting and reviewing the contents,” said Gerald Greeley, Chief Information Officer, Lawrence General Hospital. “Eliminating or greatly reducing those tasks will free up resources to better manage vendor risk.”
RDS allows assessed entities to share their assessment results securely and electronically with designated relying parties who can seamlessly locate and review key aspects of the assessment results, such as date, scope, control requirements, scores, and corrective action plans, through the RDS portal or integrated into their own TPRM System via API.
There is no longer a need for risk analysts to manually review assessment results and extract relevant information from PDFs, so resources are freed up for more strategic activities. RDS eliminates the need to search through huge PDF files that are static and difficult to use.
“Since every HITRUST assessment is performed leveraging a single assurance eco-system, we’re uniquely positioned to enable and support the secure and seamless exchange and consumption of assessment results,” said Kevin Charest, EVP, and Chief Technology Officer, HITRUST.
RDS is the latest example of HITRUST innovation that improves the overall user experience, supporting information risk management and compliance while establishing leadership in the quality and reliability of assessment results. In the second half of 2022, HITRUST will release additional RDS enhancements that offer advanced analytics with configurable dashboards, monitoring notifications, and expanded API integration for use with TPRM and other systems.
“RDS is a monumental innovation from HITRUST that fundamentally changes how assurance is provided at scale between customers and their vendors,” said Cliff Baker, CEO of CORL Technologies, “It will not just allow us to more efficiently support our customers but enable better analytics and insights through the CORL TPRM Platform.”
“For third-party risk management systems to achieve their full potential in helping organizations manage their vendor risk, assessment results need to be electronically shared and consumed,” said Jeremy Fisher, Vice President of Product at Archer. “HITRUST’s results distribution system is a big step in making that possible and will be a strong complement to our focus on vendor interaction through Archer Engage. “
Details on RDS, its benefits, and how it works can be found on the HITRUST website here: HITRUST Results Distribution System.