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Third-Party Risk Management (TPRM)
Andromeda Cloud Security
Akitra Andromeda Risk Management
Akitra Inc. Key Value Propositions
Akitra's key value proposition is providing AI-powered compliance automation that significantly reduces manual effort and paperwork for security-first teams. This allows organizations to achieve and maintain various regulatory certifications and manage cybersecurity and risk postures efficiently, freeing them to focus on core business development.
Akitra Inc. Brand Positioning
Akitra positions itself as the AI-powered leader in compliance automation and GRC for security-first teams in SaaS, Fintech, and Health-Tech, enabling them to "ship products, not paperwork" through comprehensive, integrated solutions.
Top Competitors
Vanta
Drata
Secureframe
Customer Sentiments
Customer sentiment is likely positive, driven by the strong value proposition of AI-driven automation reducing manual compliance burdens and enabling continuous audit readiness. The focus on comprehensive, integrated solutions for highly regulated industries would resonate well with their target audience.
Actionable Insights
To strengthen brand positioning, Akitra should feature more case studies and testimonials highlighting the tangible time and cost savings from their AI automation.
Products and Features
Third-Party Risk Management (TPRM) - Product Description
Third Party Risk Management (TPRM) is a critical cybersecurity and compliance discipline focused on assessing, monitoring, and mitigating risks associated with external vendors, suppliers, and service providers. This process involves evaluating a third party's security posture, compliance with regulations (like GDPR, HIPAA, SOC 2), financial stability, operational resilience, and ethical practices. The goal is to protect an organization's sensitive data, maintain operational continuity, prevent supply chain disruptions, and ensure adherence to legal and regulatory obligations, thereby safeguarding the organization from potential breaches, financial losses, and reputational damage stemming from third-party relationships. Akitra's TPRM solution likely offers features for vendor assessment questionnaires, risk scoring, continuous monitoring, and reporting.
Pros
- TPRM solutions like Akitra's help organizations proactively identify and mitigate risks introduced by third-party vendors, protecting sensitive data and intellectual property
- They ensure compliance with various regulatory frameworks, reducing the likelihood of hefty fines and legal repercussions
- By streamlining vendor assessment and monitoring processes, TPRM solutions can lead to operational efficiencies and cost savings in the long run.
Cons
- Implementing a comprehensive TPRM program can be resource-intensive, requiring significant investment in technology and skilled personnel
- The complexity of managing numerous third-party relationships and their associated risks can be overwhelming, especially for organizations with vast vendor ecosystems
- Relying heavily on automated solutions might miss nuanced risks that require human oversight and qualitative assessment.
Alternatives
- Competitors in the TPRM space include GRC platforms like ServiceNow GRC, LogicManager, and Archer
- Specialized TPRM solutions such as ProcessUnity, OneTrust, and Prevalent also offer robust capabilities for vendor risk assessment and management
- Many organizations also develop in-house TPRM frameworks using a combination of manual processes, spreadsheets, and basic security tools.
Company Updates
Latest Events at Akitra Inc.
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View sourceAKITRA | LinkedIn
Jul 1, 2022 ... Compliance Impact on Company Valuation and Funding - Akitra. https://akitra.com ... View all updates, news, and articles. Join now. Similar ...
View sourceAkitra: Compliance Automation Solution | SOC 2, PCI DSS, HIPAA
Akitra, a leading company in cloud cybersecurity & compliance solutions for SOC 2, ISO 27001, HIPAA, and more frameworks. Contact us today!
View sourceAkitra - Overview, News & Similar companies | ZoomInfo.com
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