Optiv Security Launches Technology-Enabled Third-Party Risk Managed Service; Offers Industry’s First and Only Holistic Third-Party Risk Management Solution 

Enables Companies to Better Manage Entire Vendor, Supplier and Business Associate Risk Management Lifecycles, Improving Compliance and Risk Management

Denver – September 13, 2016 - Optiv Security, a market-leading provider of end-to-end cyber security solutions, today announced the general availability of its technology-enabled third-party risk managed service. Leveraging Optiv’s proven Software-as-a-Service based third-party risk management platform, Evantix, this service enables companies to better manage the complete third-party risk management lifecycle, resulting in improved compliance and risk management. The addition of this offering to Optiv’s suite of services makes Optiv the first and only company to offer a holistic solution that can help organizations better plan, develop and manage all aspects of their third-party risk management programs, including vendors, suppliers and business associates.

Optiv’s third-party risk managed service handles the process and reporting required for clients to determine the inherent risk, assess the controls and drive remediation with their vendors and partners. Optiv delivers this service through consultants with extensive expertise in building third-party risk programs and performing third-party risk assessments combined with the Evantix SaaS platform, currently in its fourth generation. This powerful technology solution includes standardized, on-demand risk score reports and customizable scoring technology to provide corporate risk managers and IT security professionals with quick, accurate and cost-effective visibility into the potential risk associated with outside service providers. Optiv’s innovative approach leveraging people, process and technology to deliver its third-party risk managed service helps companies better manage the entire third-party risk management lifecycle, which includes due diligence, assessment, validation and remediation.

“Organizations are increasingly turning to third parties to perform key business functions. That brings an increased risk of exposure to businesses as most companies lack visibility into where their data is stored or how it is handled by a third party,” said Tim Hoffman, executive vice president of worldwide client solutions for Optiv. “Today’s businesses require strong third-party risk plans that extend beyond traditional IT, yet most lack the necessary resources to create and execute on those plans. Optiv has the capabilities to help clients address and manage their vendor and partner risk through a comprehensive approach that includes people, process and technology.”

“The Optiv third-party risk managed service provides clients with a method to automate processes and reduce their staff’s major workload related to tracking and assessing the organization’s vendors and partners,” said James Christiansen, vice president of information risk management for Optiv. “Also, our Evantix platform’s advanced analytics provides third-party risk intelligence information to help clients make informed and consistent risk decisions related to vendor, supplier and business associate relationships.”

Optiv’s comprehensive suite of third-party risk management offerings help organizations understand the breadth of third parties in their environment, categorize relationships by risk to the organization, conduct risk assessments aligned to specific industry standards and develop the compliance criteria vendors must meet to do business with the organization.