Enfusion, a provider of cloud-based investment management software and managed services, has selected Drawbridge Partners, a cybersecurity software and services firm specialising in the needs of hedge fund and private equity managers to bolster its vendor due diligence process.Enfusion will deploy the DrawbridgeConnect platform to manage third party risk and build a robust cybersecurity program that exceeds industry standards.
DrawbridgeConnect allows users to easily aggregate internal cyber risk assessment data to drive analysis, determine program strength and remediation, and create and manage a resilient program to fulfil evolving data privacy mandates, regulatory and investor demands. Firms can easily assess third party vendor cybersecurity risk and ensure all shared data is protected. The platform stores all critical vendor information, launches Due Diligence Questionnaires (DDQs) to third party vendors, and tracks response and completion status. By aggregating the data in a centralised location, DrawbridgeConnect streamlines the vendor due diligence workflow, reducing time and resources used while conducting due diligence.
“Enfusion has selected DrawbridgeConnect to transform our Vendor Due Diligence workflow into an efficient and fully auditable process,” says Dan Groman, Senior Vice President, Head of Technology, Enfusion. “We already use DrawbridgeConnect to fulfill diligence responsibilities to some of our own clients, and have found the system to be very effective, which ultimately made our decision-making process much easier.”
Jason Elmer, CEO, Drawbridge Partners, says: “During these challenging times, it’s more important than ever that firms can effectively manage and monitor their third-party relationships as part of their overall robust cybersecurity program. DrawbridgeConnect was created to streamline the vendor due diligence process and deliver a fully centralised platform that helps customers comply with regulatory requirements, meet investor demand and exceed cybersecurity best practices. We’re proud that Enfusion has selected Drawbridge to provide them real-time insight into the current state of their vendors’ cybersecurity programs, identify data risk that lie outside their organisation, and help them develop a roadmap to manage and enhance their cybersecurity program.”
