Building a Vendor Management Program

Vendor Management Program

Whether you want to make your internal and vendor audit programs better or need help creating them, it’s critical to engage an experienced team of professionals to help ensure you have everything in place to meet both your clients’ and your regulatory demands.

Reviewing your current audit program may result in needing an upgrade—or even a new program. Here’s why:

Why Rigorous Audit Programs Are Essential to Your Business
Rigorous internal and vendor audit programs reduce risk and cost. Yet all too many businesses and other organizations don’t even have audit programs. Others haven’t updated theirs in years.

• Why should my company have an internal audit program? Without a strict internal audit program, your company cannot assess its risks and weaknesses, strengthen its risk management program, strengthen its internal processes and relationships, and discover ways in which your company can better meet its customers’ needs. Without an internal audit program, you’re flying blind. You’ll never realize your potential when you haven’t a firm grasp on what you can do better.
• Why should we have a vendor audit program? Vendors often pose a risk to your company. They may manufacture a defective product; their insurance may expire, or they may go out of business. From a cost perspective, you may be able to save more money by consolidating various services from one vendor. Also, your company may find a cheaper source for a given vendor’s services or products. The only way you can know for sure is to conduct regular vendor audits.
Customers expect the best from their vendors. An audit program ensures that your company will deliver on all their expectations.

Regulators, too, expect that your company will have a rigorous audit and compliance program in place. Avoid costly remediation processes and forced shutdowns with regular audits that ensure you are in complete compliance with all your industry’s current requirements.

How Interactive Security Can Transform Your Company
Internal and vendor audits identify weaknesses both from within your company and from the vendors you use. We can provide you with a stringent audit program that

• Tests your policies and processes against industry-defined standards and best practices
• Identifies weaknesses and mitigates risks from within and without
• Meets customer needs and regulatory demands
• Provides an objective view that can uncover weaknesses that are difficult to detect from the inside
• Gives you practical, actionable suggestions to improve your controls, reduce your exposure and lost business risks, and streamline processes for more effectiveness
• Provide you with accurate, prompt audit results
• Track vendor compliance documents
• Increase your market share and lower your costs
• Identify lost revenue opportunities and capture more business
• Find ways to reduce payroll by identifying slow times
We tailor your audit program to your company’s unique needs. That way, we can provide you with a vendor management program that will meet regulatory demands, mitigate risks, increase effectiveness, and cut costs. Before we conduct your audits, we’ll get to know your business so that we can understand your company’s unique needs.

For a more in-depth talk about what Interactive Security can do for your company’s vendor management program and internal efficiency, contact one of our audit specialists today.

Interactive Security, Inc. has been at the forefront of providing industry leading expert information technology security services to clients across the globe – focused on IT Security Auditing & Compliance.


Vulnerability / Penetration Assessments ~ Application Security ~ PCI DSS ~ HIPAA ~ HiTRUST ~ ISO 27001 ~ FEDRAMP ~ FISMA/NIST ~ GDPR ~ Privacy Shield

Shawn Corrigan

Shawn Corrigan is the President and Founder of Interactive Security Holdings Inc. Interactive Security has grown into a global company offering IT Compliance Auditing services for small to large companies - focused on making it obtainable, simple and affordable. With over 20 years in the BPO and Financial industry working at the executive level, Corrigan has experienced the pitfalls, trials and tribulations of bringing an enterprise organization into IT compliance. Corrigan has designed a methodology geared at guiding clients of any size to successfully achieve compliance and ultimately obtain compliance certification. Corrigan is certified as a FISMA – NIST Implementor, PCI-DSS QSA, HiTRUST Certified Practitioner and HiTRUST Certified Quality Professional, ISO 27001 Lead Auditor and Implementor