The program employed by an organization to assess its vendors’ management of information shared by the organization is known as Vendor assessment. It is also responsible for evaluating whether the vendors are implementing and maintaining the relevant and required security controls.
The aim of establishing a vendor assessment program is to ensure that the vendors employed by an organization act in compliance with that organization’s required information security policies. Hence, it can be said that vendor assessment is a part of a more considerable effort made by the organization to maintain its internal security and protect customer data and information. Every organization takes important measures to seek a security review of their active and potential vendors. Due to this, all vendors must demonstrate that they have security practices to manage the organization’s data.
Implementing an effective vendor assessment program is one way for an organization to ensure that its vendors are operating in compliance with the required security policies and procedures.