Informatica introduces mobile-friendly Vendor Risk Management (VRM) solution for managing 3rd party security audits and vendor privacy assessments

Toronto, Canada, March 22, 2023 –  According to their 2022 data breach study, IBM and the Ponemon Institute concluded that more than half (54%) of organizations were breached through third parties, leading companies to lose up to $4M per incident. Today, Informatica Corporation, through its subsidiaries Datarisk Canada and Managed Privacy Canada (MPC) exclusively introduced its Vendor Risk Management (VRM) module to the company’s twin security and privacy compliance portals: the PrivacyDASH™  and Verify Audit Portal™ (VAP).

“2022 was a watershed year in the erosion of trust in the Canadian business sector” said Claudiu Popa, founder of Informatica Corporation. “At least two-thirds (66% according to Mastercard’s RiskRecon study) of companies do not believe their suppliers would notify them of a breach of their sensitive information. This is a shocking no-confidence vote in their ability to control vendor risk and service level management (SLM), and it all begins with due diligence”.

The Vendor Risk Management (VRM) features have augmented the PrivacyDASH™ and:Verify Audit Portal™ with unique features designed to assist Canadian companies to manage third-party risk by:

• Simplifying third-party privacy and security assessments
• Tracking supplier compliance with applicable security standards and privacy legislation
• Managing incidents and remediation activities service providers
• Sharing security policies and training materials with trusted partners
• Maintaining visibility into 3rd party cyber security service levels

“We built the Vendor Risk Management (VRM) functionality into the client portals as a self-serve tool to help vendors and service providers to share information and provide visibility into their security and privacy practices.” said Popa.

Both the PrivacyDASH™ and:Verify Audit Portal™ are enterprise-grade portals with advanced features such as multifactor authentication and mobile compatibility designed to scale to the needs of suppliers and partners of all sizes, saving both time and productivity in the process of reducing risk to the entire supply chain ecosystem.

Professionals and advisory firms are encouraged to join the FlexSecure Partner Program (FPP™) directly from www.SecurityandPrivacy.ca and recommend the PrivacyDASH™ and:Verify Audit Portal™ to their clients and trusted partners.

Trusted advisors are encouraged to share the registration links for: The Datarisk Verify Audit Portal (www.datarisk.ca/register) and Managed Privacy Canada’s Privacy Dash (www.managedprivacy.ca/register) with their networks of:

• Vendors and service providers that require standardized policy and compliance training
• Security and privacy managers looking to streamline enterprise risk education
• Professional services firms can extend their security program to their clients using the PrivacyDASH™ and Audit Portal™

Professional services, accounting and law firms are encouraged to register and qualify to become Authorized Privacy and Security Partners as part of the FlexSecure Partnership Program on www.SecurityandPrivacy.ca.