Today, most organizations measure third-party risk by emailing Excel questionnaires to their vendors, having back and forth questions to obtain more information, multiple meetings with the vendors and internal teams, and finally determining a risk rating for the vendor. Additionally, companies have difficulty prioritizing internal security controls to increase security maturity.
Velocity is a cloud risk assessment platform that utilizes known security frameworks and regulations including NIST, CIS, HIPAA, FFIEC, MITRE ATT&CK, and Velocity’s own breach risk framework. Velocity was developed to solve two security problems affecting most organizations:
1. Measuring Third-Party Risk
2. Improving Internal Security posture
Velocity makes your team more efficient by handling the lengthy manual work and automatically calculating risk. Using the Velocity web application, an organization can send a Velocity vendor questionnaire and quickly receive a risk rating for the third-party. Instead of evaluating one vendor at a time, you can now evaluate hundreds. Velocity even estimates breach costs for each vendor!
Velocity is a product by Stern Security and is 100% developed and hosted within the USA. Stern Security was a finalist for the 2019 NC TECH Cyber Security Award for the Velocity product. Find out more at https://www.velocitysec.com.