ISACA releases new guide for Enterprises to manage Vendors

As enterprises increasingly rely on Cloud service providers and other vendors to provide fundamental services, ISACA has released a new guide applying the internationally accepted COBIT 5 governance framework to help enterprises effectively manage vendors.
 
“Recent research from the IT Policy Compliance Group reveals that approximately one out of five enterprises does not invest sufficient effort to manage vendors and vendor-provided services effectively. This means that enterprise requirements and standards are not properly incorporated into vendor contracts, ownership of information being handled by vendors’ remains unclear, and access to information is not guaranteed if the vendors go out of business,” said Nikolaos Zacharopoulos, CISA, CISSP, Senior IT Auditor at DeutschePost-DHL and Member of ISACA’s Guidance and Practices Committee.
 
Zacharopoulos added, The COBIT 5 framework provides tested guidance to help them effectively govern these relationships so they deliver maximum value with minimum risk.
 
Using COBIT 5 framework, all stakeholders involved in the vendor management process, from the board and C-level executives to the legal department and IT can help enterprises to manage vendors.