Effective 3rd party risk management requires powerful solutions.
At a time when compliance with regulatory frameworks like PCI DSS and HIPAA are more critical than ever, 3rd party risk management of software is more difficult as well.
Regulatory organizations tend to hold first-parties accountable for third-party mistakes. This is certainly true when it comes to software. Because applications and web applications have become the number one attack vector for cybercrime, regulatory agencies often require that organizations perform robust third party security assessment for components that are purchased or downloaded as part of the software supply chain. Commercial software products are often released with significant vulnerabilities – 83 flaws on average – and organizations need a clear view of the quality of the components they use to build and assemble their applications in order to improve 3rd party risk management.
In the past, compliance with mandates for 3rd party risk management has been time-consuming and expensive. Because software vendors are unlikely to share source code that they view as intellectual property, organizations would have to engage in black box testing or manual penetration testing in order to perform a third party risk assessment. Today, Veracode has changed all that with a suite of services that makesthird party risk management quick, easy and cost-efficient.
3rd party risk management with Veracode.
Veracode is a leading provider of application security services that help to protect the software businesses rely on. Built on a secure and highly scalable cloud platform, Veracode’s software testing solutions allow organizations to integrate testing and 3rd party risk management into every phase of the software development lifecycle and the software procurement process. Veracode’s SaaS cloud security services are easy to use – developers require no specialized expertise and do not need to learn how to manage a new tool. And Veracode’s testing services return results quickly – often within four hours – along with a prioritized list of fixes for faster remediation.
How Veracode simplifies 3rd party risk management.
Veracode makes 3rd party risk management easier by scanning compiled binaries and returning a pass/fail grade for each vendor application test. Because Veracode’s testing services do not require access to source code, vendors do not have to share what they view as confidential information. And with a simple pass or fail grade for each application, Veracode helps to speed the 3rd party risk management process and quickly assess exposure when high profile open source vulnerabilities are discovered.