- "Shared Assessments helps ensure sound operations for any business involved in touching sensitive data."
- —Timothy J. O'Brien, Senior Vice President - Yodlee Incorporated
Who is this for?
Who is this for?
The Shared Assessments Program was created for all organizations that are concerned about information controls for personally identifiable client or consumer data in outsourced relationships. Originally created by six major US financial institutions, the Shared Assessments standards are used by outsourcers, service providers and assessment firms in a range of industries.
According to a 2009 survey
- More than 120 organizations are completing the SIG and/or the AUP
- More than 300 outsourcing organizations are willing to leverage SIG and/or AUP reports
- More than 50 outsourcing organizations have replaced their proprietary questionnaire with the SIG
Increasingly, outsourcers in academia, healthcare, manufacturing, retail and other industries are making use of Shared Assessments' cost-cutting tools.
The traditional service provider evaluation process is inefficient and costly for all parties. Financial institutions and other organizations that outsource key processes produce and distribute individual and non-standard questionnaires to service providers. Service providers strain their resources to respond to diverse client information requests. Inconsistencies from questionnaire to questionnaire cause delays for all parties. On-site visits further burden all parties.
The Shared Assessments Program injects efficiency, consistency, cost savings and common sense into the assessment process. The program's industry-standard questionnaire results in less work for the party relying on the completed artifacts, less work for the service provider, and expedited turnaround (in many cases one day) from service providers that have completed the Shared Assessments questionnaire.
When a more intensive evaluation is necessary, the Shared Assessments Program reduces or eliminates altogether the need for an on-site assessment. And, by using the Program's assessment standard, a service provider can supply one report to a virtually unlimited number of clients.