Managing third-party compliance standards - including HITRUST - can be challenging without a robust and centralized compliance management system in place. Outdated and disorganized compliance management methods can result in leaked data, breaches of contract with detrimental legal consequences, and excessive amounts of lost revenue - among other things. Luckily, integrated vendor management and contract management software can help you easily track HITRUST and other compliance standards in an efficient, organized, and secure manner. Here's how.
What Is HITRUST?
HITRUST is an IT security organization that established the HITRUST CSF (HITRUST Common Security Framework) in collaboration with leading healthcare and IT organizations. The HITRUST CSF is a set of information security controls meant to assist organizations in meeting ranging standards and regulations regarding the creation of, access to, storage of, and exchange of regulated and sensitive data.
What Is HITRUST Compliance?
If you desire to have your organization HITRUST CSF certified, you must:
- adopt the common security framework.
- implement the policies and procedures outlined by HITRUST.
- adopt technological requirements outlined by HITRUST.
- document policies, risk assessment measures, and configuration settings and functionality.
- conduct a self-audit.
- determine HITRUST CSF personnel.
- and certify your CSF with HITRUST.
Vendor Management Software for HITRUST & Other Information Security
HITRUST CSF compliance is just one of many compliance standards and regulations to which your organization should be consistently and diligently attentive. Without a centralized and user-friendly solution with which to oversee ranging compliance types, your organization can easily fall prey to various disastrous compliance violations, data security breaches, violations of contract terms and conditions, and much more. Robust, user-friendly, secure, and organized vendor management software can help you address these problems and more.
Vendor Questionnaire, Rating, & Scoring
With robust and highly configurable vendor management software, your organization can configure vendor surveys and questionnaires. Your organization can use these features to audit vendors, suppliers, and other relevant personnel against the policies and requirements of HITRUST and other compliance standards. Vendors can efficiently respond to questions via a seamless and automated interface, and - from there - your organizations can compare and evaluate answers based upon necessary compliance standards. After that, your organization can seamlessly weigh and score vendors based on your easily preconfigured vendor rating and scoring settings. Finally, you can decide whether your vendors adhere to outlined compliance standards or - conversely - if vendor relationships need to be reevaluated to maintain HITRUST or other security and compliance standards.
Vendor Certification Tracking
Your organization can leverage integrated vendor management and contract management software to configure unique data fields pertaining to HITRUST and other compliance requirements and automated alerts for vendor records and contract records. These configuration features are great for managing necessary metadata for COI documents – such as insurance limits, certification types, COI expiration dates, and much more. Thus, your organization can cohesively track, edit, and manage vendor data in one centralized location. Seamless third-party integration with various mission-critical applications can help with importing up-to-date vendor data if changes are made within an external ERP software system or another relevant software system. This functionality can provide robust oversight of relevant compliance data.
Additionally, your organization can utilize future-minded vendor management software to link virtually unlimited electronic documents to vendor records. This functionality can prove very useful for electronic COI documents relevant to HITRUST and other compliance standards.
Track HITRUST & Other Important Vendor Data With Cobblestone Software
Avoid the anxiety and confusion of managing HITRUST and other necessary compliance and security standards with a lackluster and manual vendor management plan. Instead, make the most of complete vendor management oversight with CobbleStone Vendor Management Software.
CobbleStone’s trusted and acclaimed, seamlessly integrated, web-enabled vendor management software suite heightens vendor oversight with increased governance, decreased friction, high scalability, and powerful flexibility CobbleStone Software has been a visionary leader in vendor management and contract management software for over 20 years - and has never stopped powering digital transformation within the industry since. CobbleStone’s robust, low-friction, easy-to-adopt, and scalable vendor management and CLM solution seamlessly integrates with a wide variety of mission-critical applications for centralized vendor management, compliance management, data security, supply chain contract management, and much more. CobbleStone Vendor Management Software is also SOC 1, SOC 2, and Privacy Shield compliant to support highly secure vendor management processes - all while seamlessly integrating with contract lifecycle management processes!
It’s no wonder why Forrester names CobbleStone a Leader in CLM software!
Discover why thousands of contract managers trust CobbleStone Software with their vendor management and contract management needs. To learn more about CobbleStone’s unparalleled source-to-contract management software, book a free demo with a Contract Insight expert today!
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