Safe Systems Offers New White Paper, “Why Automation is the Answer for Community Banks’ Vendor Management Challenge”
Offers guidance to community banks to better manage their vendor relationships through an automated vendor management program
Alpharetta, Ga., Jan. 7, 2016 — Safe Systems, a national provider of fully-compliant IT and security services for community banks and credit unions, announced that it now offers a free white paper, “Why Automation is the Answer for Community Banks’ Vendor Management Challenge,” which is available for download on its website.
The new white paper offers community banks insights on effectively managing vendors, while working to maintain compliance with new regulations for vendor management. Due to increased outsourcing and more frequent cybersecurity incidents involving third-party service providers, regulators are encouraging institutions to strengthen their vendor management processes. Safe Systems’ white paper addresses the impact of new regulations on financial institutions and highlights the key benefits of implementing an automated vendor management program.
Most community financial institutions do not have a formal internal department dedicated to vendor management and often depend on IT departments to handle this process manually. Keeping track of vendors using traditional spreadsheets has become a cumbersome practice, and more institutions are turning to automated vendor management solutions to assist in successfully managing their vendor relationships.
“In today’s fast-paced, digital landscape, banks are only as secure as their most insecure vendor,” said Darren Bridges president of Safe Systems. “Financial institutions must be aware of and responsible for mitigating the risks associated with outsourcing, and an automated vendor management solution is an important step in this process.”
About Safe Systems
Safe Systems was founded in 1993 to provide compliance-centric IT and security solutions exclusively to financial institutions. The company has become one of the leaders in the industry, managing hundreds of financial institutions representing more than $61 billion in combined assets, 1,100 locations and more than 25,000 network devices. Safe Systems’ IT network management services are the bridge between the core and other third-party applications. These cost effective solutions include IT support and managed services, internal network/cloud design and installation, hosted email, business continuity and disaster recovery, compliance consulting, security services, and IT and compliance training. Safe Systems helps financial institutions to significantly decrease costs, increase performance, and improve their compliance posture. For additional information about Safe Systems, Inc., please visit www.safesystems.com or call 877.752.0550.