News Column

Modulo Announces New Supply Chain Security Risk Management Solution for its GRC Third Party Risk Management Suite

April 30, 2014



Atlanta, GA (PRWEB) April 30, 2014

Modulo, a leading provider of technology governance, risk and compliance (GRC) solutions, today announced a new Supply Chain Security (SCS) Risk Management solution, available immediately through the Third Party Risk Management solution suite for Modulo's award-winning GRC platform. The new offering addresses heightened threats to the supply chain including cyber, terrorism, organized crime, theft and tampering, and country-of-origin risks.

Modulo also announced a live webinar scheduled for June 4th at 11:30am EST ( https://www2.gotomeeting.com/register/583283906) and a white paper entitled "Effective and Affordable Automation Solutions for Supply Chain Security Risk Management and C-TPAT Compliance" to be released the same month (http://modulo.com/supply-chain-security/).

With ever increasing security threats and other widespread supply chain disruptions, SCS is now officially a reality of both day-to-day business and trade compliance. The U.S. is enforcing supply-chain diligence with an expanding list of trade partners, and businesses are looking for a way to ensure security while improving efficiency and lowering costs associated with performing and reporting complex threat and vulnerability assessments. GRC systems are a natural fit for effectively managing SCS risk management programs, which many businesses have yet to integrate due to the perceived "moving target" nature of governments' requirements and the lack of actual risk reduction. However, embracing integration enables system users to leverage broader GRC program data to improve overall enterprise visibility.

Modulo's new Supply Chain Security Risk Management and compliance solutions enable users to gather, manage, and report data related to multiple SCS compliance regimes including the U.S. Customs-Trade Partnership Against Terrorism (C-TPAT), Canada's Partners in Protection (PIP), Mexico's New Scheme of Certified Companies (NEEC), and the security component of the Authorized Economic Operator (AEO) programs in the EU, Japan, Korea, The Dominican Republic, Brazil, and Argentina, among others.

"The largest cost of compliance with frameworks like C-TPAT is often the drain of independently managing programs with overlapping requirements. Yet few of the C-TPAT requirements that rely on supplier survey are exclusive to security practices. These should be addressed in terms of broader vendor and supplier risk management efforts. Modulo's integrated approach enables users to benefit from a data-mapping design that streamlines information gathering into one annual survey while enhancing reporting," said Steve Gant, Managing Director, North America, Modulo.

The new SCS content is cross-mapped to broader security and cyber regulations and standards to optimize controls, eliminate redundant assessments of vendors and produce C-TPAT and other CSC specific compliance reports. In addition, Modulo's weighted scoring also provides intelligence that is critical to achieving compliance with the unique element of SCS initiatives.

Compliant SCS practices involve documented risk management approaches; automated surveying, weighting, and scoring capability; dashboard and drill-down views; and continuous monitoring. Government overseers also require active supplier management in order to continuously lower overall risk scores. Modulo helps customers with the following requirements:



   •  Adhere to and apply industry best practices

   •  Automate Third Party Risk Management processes end-to-end

   •  Scale to manage hundreds to hundreds of thousands of vendors and suppliers

   •  Monitor workflow and progress to stay ahead of potential issues

   •  Consolidate risk data by department and vendor type

   •  Report risk and compliance assessment results

About Modulo

Modulo is a leading global enterprise provider of technology governance, risk and compliance (GRC) management solutions. Hundreds of organizations around the world leverage the award-winning Modulo Risk Manager™ as a flexible and affordable approach to manage risk, compliance, and business continuity across the enterprise and extended enterprise of third-party relationships. Customers span the financial, healthcare, retail, manufacturing, higher-education, telecom, energy and government sectors and include BASF, BC Hydro, Commercial Bank of Dubai, Microsoft, New York University Medical Center, Synovus Financial, and Schlumberger. Modulo has earned industry recognition as both a 2012 and 2013 Innovator of the Year from SC Magazine, which also gave the company's products "5-Star" review ratings for three consecutive years.

Visit http://www.modulo.com and follow Modulo on Twitter @Modulo_Intl.

Read the full story at http://www.prweb.com/releases/2014/05/prweb11813837.htm


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