CHARLOTTE, N.C.--(BUSINESS WIRE)--Businesses increasingly rely on third-party vendors as a way to improve internal efficiencies and expand their current product or service offerings to customers. While outside vendors are a viable solution to successfully maintain business operations, companies need to consider the risk involved in hiring an outside party. This leaves many wondering how best to ensure their third-party vendors are meeting the required standards to prevent potential harm to customers and the enterprise.
ATTUS Technologies, Inc., an affiliate company of Computer Services, Inc. (CSI) (OTCQX: CSVI) and a leading regulatory compliance solutions provider, today introduced a new Vendor Assessment service as part of its Managed Compliance Service (MCS) division. The new service assists companies in performing due diligence of third-party vendors, obtaining an in-depth view of their vendors’ internal IT processes, ensuring that appropriate controls are functioning properly and identifying areas of potential weakness. The combination of these service capabilities, in addition to ATTUS’ expert risk consultants, safeguards companies against potential vendor weaknesses that could compromise customer and corporate data, working to protect the company’s brand, reputation, and bottom line financial success.
“With a large percentage of our customer base entering into relationships with third-party vendors, we understood the importance of providing a dependable program to vet, select and manage the risk associated with these relationships,” said Paul Reymann, chief risk officer for ATTUS Technologies. “We have already seen the positive impact of our Vendor Assessment service, as we work with one of the world’s largest fast food chains to evaluate their existing and potential vendors. As a result, the company has seen a decrease in overall vendor evaluation costs and can now focus more time and energy working toward their specific business goals.”
As part of the Vendor Assessment service, ATTUS provides customers with a team of expert compliance and risk management officers to conduct a thorough review of each third-party vendor through a multi-step process, which includes:
- Notifying and gathering key information from each vendor;
- Evaluating the adequacy of each vendor’s controls;
- Preparing a report of findings for the company and vendor; and
- Documenting a remediation action plan, as needed.
“In today’s competitive business world, public perception plays a large part in the overall success or failure of a given company,” said Tom Fedell, president and general manager of ATTUS Technologies. “In order to ensure the continued success of our customers’ business, we developed the Vendor Assessment service to deliver ATTUS’ expert skills and knowledge to not only monitor third-party vendor compliance and risk, but also assure our customers that their vendors are acting with the same integrity and discretion reflective of their own public image.”
ATTUS’ MCS simplifies compliance and risk management demands for companies and financial institutions through its industry expertise, intelligent content and advanced technology. MCS reduces the time and cost spent on compliance, while allowing organizations the ability to achieve real-time visibility and intelligence. Through its services, MCS allows companies of all sizes to operate consistently in an audit-ready state.
About ATTUS Technologies, Inc.
ATTUS Technologies, Inc. is a trusted partner, simplifying compliance and risk management. We are an industry leader in software and services for regulatory compliance, homeland security and fraud prevention. ATTUS serves more than 5,000 clients with solutions that provide compliance with the requirements of the Gramm-Leach-Bliley Act (GLBA), the USA PATRIOT Act, the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), the Bureau of Industry and Security (BIS), anti-money laundering regulations, the Bank Secrecy Act (BSA), the Dodd-Frank Act, Regulation CC and Regulation E. ATTUS, a wholly owned subsidiary of Computer Services, Inc. (CSI), is based in Charlotte, N.C. For more information about ATTUS, visit www.attustech.com.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, managed services, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation's premier providers of technology solutions for the financial services industry. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.