Click here to close now.


Wearables Authors: Yakov Fain, Pat Romanski, Tim Fujita-Yuhas, Chris Fleck, SmartBear Blog

News Feed Item

Modulo Announces Vendor Risk Management Solution

Modulo, a leading provider of IT governance, risk and compliance (GRC) solutions, announced today a Vendor Risk Management solution for enterprises to identify and classify high risk vendors and cloud providers as well as streamline the risk and compliance evaluation process. The product comes fully integrated with the Shared Assessments Standard Information Gathering (“SIG”) questionnaire – a robust and easy-to-use industry standard template for gathering and assessing IT, operating and security risks and controls in an information technology environment. Modulo is demonstrating its solution and sharing best practices this week at the 6th Annual Shared Assessments Summit, March 19-20, 2013 in Boston.

Enterprises are required to manage hundreds to hundreds of thousands of third-party vendors that provide essential services. These parties have access to sensitive data, exposing organizations to IT and cyber risks and noncompliance to regulatory as well as internal requirements. SOX, FFIEC, NYSE, GLBA, PCI DSS, HIPAA and other regulatory bodies require organizations to extend assessments to vendors, contractors and consultants and regulatory scrutiny is increasing.

Many of these third-party vendors now provide cloud-based solutions, making it even more difficult to assess reliability, continuity, and compliance and creating a ripple effect in the event of a disruption. Industry experts suggest that organizations first conduct a security assessment of these vendors before they buy and then monitor vendors on an ongoing basis.

“The cost of failing to manage vendor risk is high: from quality of service to financial, audit, and reputation risk. Many organizations don’t know whom their high-risk vendors are which makes it nearly impossible to target assessments, prioritize risks and create mitigation plans. Vendor Risk Management has emerged as a leading use case for our powerful and flexible IT GRC platform, which harmonizes risk scoring across all IT risk management projects for a holistic enterprise risk profile,” said John Ambra, director of technical services for Modulo.

Vendor Risk Management with Modulo Risk Manager™ 8.1 helps organizations automate third-party regulatory compliance and adherence to internal policy requirements, saving time and money and continuously improving the maturity of vendor risk programs. Modulo Risk Manager provides several tiers of reporting based on the level of detail required by the report recipient. Modulo Risk Manager ties into business value by helping define Key Risk Indicators (KRIs) to understand the impact of vendor IT risks on overall enterprise risk.

Added Ambra, “One North American Fortune 50 consumer products company with over 20,000 vendors worldwide uses Modulo Risk Manager for its Vendor Classification survey to identify which categories vendors fit into and who has access to the system. Once these high-risk parties were identified they implemented they were able to implement a targeted risk assessment and risk mitigation program, focused on a subset of vendors with access to PII data (Personally Identifiable Information).”

Organizations around the world use Modulo Risk Manager's Vendor Risk Management solution to:

  • Accurately classify vendors by risk and relevance levels
  • Track and monitor classification efforts and assessments in one single console
  • Harmonize risk scoring across vendor assessments and risk management projects
  • Prioritize risks and remediate exposures based on the risk a vendor presents
  • Report vendor risk & compliance evaluation results using reports targeted for vendors, internal lines of business, and customers
  • Benchmark vendors against organization and industry standards

Unique new features now available include: Mobile Apps to capture vendor risk information on the iPhone, iPad, and Android; Visual Google Geo-location Maps that aid in trend analysis; and “What-if” Simulations to create surveys that generate optimal responses.

The Modulo Risk Manager Vendor Risk Solution is available immediately in three deployment models: on-premise, subscription, or SaaS. For more information please visit:

About Modulo

Modulo is a leading global enterprise provider of comprehensive Governance, Risk and Compliance (GRC) management solutions. Modulo’s award-winning Risk Manager™ provides hundreds of organizations worldwide with the tools they need to automate the entire GRC management process to monitor, manage and sustain adherence to policy and regulations while reducing enterprise risk and complexity. Customers span the financial, health care, retail, telecom, power & gas and government sectors and include BASF, BC Hydro, Commercial Bank of Dubai, Microsoft, New York University Medical Center, Synovus Financial, and Schlumberger. Modulo has earned industry recognition as a 2012 Innovator of the Year from SC Magazine; “Best Buy” and “5-Star” in SC Magazine’s risk management group product reviews for two consecutive years (2012 and 2011); finalist in SC Magazine Excellence Awards for two consecutive years (2012 and 2011); and winner of the Info Security Products Guide Global Excellence Awards and Network Products Guide Product Innovation Award.

Visit and follow Modulo on Twitter @moduloitgrc.

Key search terms: Vendor Risk, Vulnerability Management, Risk Management, Cybersecurity, Physical Security, Operational Risk, Continuity Management, Critical Infrastructure

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
In his session at @ThingsExpo, Tony Shan, Chief Architect at CTS, will explore the synergy of Big Data and IoT. First he will take a closer look at the Internet of Things and Big Data individually, in terms of what, which, why, where, when, who, how and how much. Then he will explore the relationship between IoT and Big Data. Specifically, he will drill down to how the 4Vs aspects intersect with IoT: Volume, Variety, Velocity and Value. In turn, Tony will analyze how the key components of IoT influence Big Data: Device, Connectivity, Context, and Intelligence. He will dive deep to the matrix...
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Building actually breathes - immediately flagging overheating in a closet or over cooling in unoccupied ho...
Scott Guthrie's keynote presentation "Journey to the intelligent cloud" is a must view video. This is from AzureCon 2015, September 29, 2015 I have reproduced some screen shots in case you are unable to view this long video for one reason or another. One of the highlights is 3 datacenters coming on line in India.
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect and correlate data from control systems, sensors, mobile devices and IT systems for a variety of Ind...
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the cloud and the best price/performance value available. ProfitBricks was named one of the coolest Clo...
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud without worrying about any lock-in fears. In fact by having standard APIs for IaaS would help PaaS expl...
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated and cloud solutions through hybrid hosting – a sustainable solution for the data required to manage I...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk will be on IBM Cloudant, Apa...
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text message to Betty – mobile messaging now offers tremendous value to businesses for customer and empl...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The enterprise is being consumerized, and the consumer is being enterprised. Moore's Law does not matter anymore, the future belongs to business virtualization powered by invisible service architecture, powered by hyperscale and hyperconvergence, and facilitated by vertical streaming and horizontal scaling and consolidation. Both buyers and sellers want instant results, and from paperwork to paperless to mindless is the ultimate goal for any seamless transaction. The sweetest sweet spot in innovation is automation. The most painful pain point for any business is the mismatch between supplies a...
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, focusing on how to help solve the problems that developers are continuously battling.
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingly turn towards data source discovery tools to find the right data, in context, for business users, d...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 150 developers, designers, quality assurance engineers, project manage...
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless Thingies, will discuss and demonstrate how devices and humans can be integrated from a simple clust...
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, will discuss the impact of technology on identity. Should we federate, or not? How should identity be secured? Who owns the identity? How is identity ...