Purpose: This policy aims to ensure that all third-party vendors working with [Your Company Name] uphold its data protection standards and that the vendor relationship management process is consistent, transparent, and efficient.
Scope: This policy applies to all vendors with access to, store, process or transfer customer or company data concerning Elucidate Group's Salesforce implementation services and other business operations.
1 Principles of Vendor Management:
Due Diligence: All vendors must undergo a rigorous selection process that ensures they meet Elucidate Group's security, quality, and compliance standards.
Transparency: Vendor activities related to data management should be transparent to Elucidate Group and, if needed, to its clients.
Accountability: Vendors are accountable for upholding the agreed-upon standards and may face consequences for breaches or failures.
2 Vendor Selection and Onboarding:
Selection Criteria: Vendors will be selected based on their technical capabilities, compliance with Australian and relevant international regulations, reputation, financial stability, and previous performance.
Risk Assessment: Potential vendors will be assessed for potential risks, especially concerning data security and regulatory compliance.
Contractual Agreements: Onboarding vendors must sign contracts outlining data protection responsibilities, reporting structures, and liability in case of data breaches or failures.
3 Ongoing Vendor Oversight:
Performance Monitoring: Regular checks will be conducted to ensure vendors consistently meet the agreed-upon service levels and standards.
Security Audits: Vendors handling sensitive data will be subjected to periodic security audits by Elucidate Group or trusted third-party entities.
Training: Vendors may be required to undergo training or awareness programs related to Elucidate Group's data management policies and standards.
4 Data Access and Transfer Protocols:
Minimal Access: Vendors should have access only to the data they strictly need for their service provision.
Transfer Protocols: If data transfer is necessary, it should be done using secure, encrypted channels, and the data should be anonymised or pseudonymised where possible.
Storage: If vendors store data, it should be done in secure environments with regular backups and breach detection mechanisms in place.
5 Reporting and Communication:
Regular Updates: Vendors must provide regular updates on activities related to Elucidate Group's data.
Incident Reporting: In the event of security incidents, vendors are obligated to report them immediately to Elucidate Group, providing details on the nature of the incident, affected data, and proposed mitigation steps.
6 Off-boarding and Data Return/Destruction:
Data Return: At the end of the contractual period or upon contract termination, vendors must return all data they had access to unless otherwise agreed upon.
Data Destruction: Alternatively, vendors may be required to securely destroy the data and provide certification or proof of said destruction.
Review and Updates: This Vendor Management Policy will be reviewed annually or upon any significant legal, regulatory requirements, or company process changes.