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HITRUST® to Address Market Gaps in Reliability and Challenges in the Exchange of Security and Privacy Assessments

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HITRUST® to Address Market Gaps in Reliability and Challenges in the Exchange of Security and Privacy Assessments

Business Wire India

HITRUST® announced today a major expansion of its assessment portfolio to raise the quality and efficiency of assurances across the spectrum of information assurance needs. HITRUST also is unveiling a new evolutionary approach to streamline the exchange and consumption of assessment results across the ecosystem of relying parties.

 

HITRUST CSF Certification is the most reliable information assurance report on the market and made possible by the transparency and consistency in the selection of controls, and in the scoring, and validation of controls by both qualified third-party assessors and the HITRUST Assurance and Quality teams. The assurance process is rigorous by design to ensure a high level of assurance in the results provided. However, there are many situations where a moderate or low level of assurance is warranted. Organizations are seeking a broader range of assessment options that require less effort and time to perform while still providing a commensurate level of reliability for moderate- to lower-risk scenarios.

 

To meet the market needs for varying levels of assurance with higher reliability, HITRUST is adding two new assessment offerings. Like the HITRUST CSF Validated Assessment, these new offerings will aid in understanding control effectiveness as well as cyber preparedness and resilience. With the two new additions, the HITRUST assessment portfolio will include:

 

The Basic Current State (bC) Assessment is a “good hygiene” assessment and offers higher reliability than self-assessments and questionnaires by utilizing the HITRUST Assurance Intelligence Engine™ (AI Engine) to identify errors, omissions, and deceit.
The Implemented One-Year (i1) Validated Assessment is a “best practices” assessment and recommended for situations that present moderate risk or where a baseline risk assessment is needed. The i1 is designed to provide higher levels of transparency, integrity, and reliability over existing moderate assurance reports, with comparable levels of time, effort, and cost. HITRUST Authorized External Assessors will validate i1 assessments.
The industry standard HITRUST CSF Validated Assessment is a risk-based and tailorable assessment, which continues to provide the highest level of assurance for situations with greater risk exposure due to data volumes, regulatory compliance, or other risk factors. The HITRUST CSF Validated Assessment will be renamed the Risk-based, Two-Year (r2) Validated Assessment.

 

Until now, most low to moderate risk assessment mechanisms were either self-attested or validated against unsuitable or inconsistent control selection and limited and subjective assurance programs; which makes it difficult for relying parties to understand the control requirements and depth, breadth, and consistency of the assurance process, limiting the usefulness and reliability of the results.

 

“Often, organizations utilize mid-level assurance reports such as a SOC 2 report because they take less time and effort while being less costly. Unfortunately, these mid-level assurance reports lack the consistency and reliability of more comprehensive assessments like HITRUST,” said John Houston, Vice President of Information Security and Privacy at UPMC. “The HITRUST i1 Assessment fills a gap in the market for a medium assurance assessment that delivers a higher level of reliability and consistency while having a similar effort and cost to a SOC 2 report. And it can help the organization move towards full HITRUST CSF Certification—which organizations like UPMC view as the gold standard.”

 

While reliability is crucial for assurance, the accessibility, usability, and consumption of the results are just as important if organizations are to manage supply chain risk given evolving cyber threats. The current method of obtaining and consuming assessment results by the relying party often results in delays, inefficiencies, and misinterpretations as it is based on the exchange of PDF files that are reviewed to determine the scope, scoring, and corrective action plans before key information is often manually entered into a third-party risk management (TPRM) system.

 

To meet the expanding demand for effective information risk management across the supply chain, the HITRUST Results Distribution System (RDS) will enable assessed entities to deliver their HITRUST Assessment results through a secure, centralized reporting hub to relying parties, eliminating the need for exchanging PDFs and the manual review and entry into third-party systems that subsequently occurs. Recipients will be able to customize dashboards to view the results that interest them most, including scope, aggregate, or specific control scores. In addition, integration with GRC/VRM platforms will be available via API.

 

“For third-party risk management systems to achieve their full potential in helping organizations manage their vendor risk, assessment results need to be electronically shared and consumed,” said Jeremy Fisher, Vice President of Product at Archer. “HITRUST’s Results Distribution System is a big step in making that possible and will be a strong complement to our focus on vendor interaction through Archer Engage.”

 

The expansion of the HITRUST Assessment Portfolio and the addition of the RDS further extend HITRUST’s position as an innovator and leader in information risk management, compliance, and assurance. HITRUST continues to drive higher assurances and greater efficiencies into the assurance ecosystem. “HITRUST is building upon our market leadership in providing Rely-Able assurances by introducing moderate and low-level information assurance products,” said Bimal Sheth, Executive Vice President, Standards Development and Assurance Operations, HITRUST. “No other assessment or certification organization is able to meet the expanding global market need for information assessments and electronic results distribution.”

 

The industry standard r2 assessment (HITRUST CSF Validated Assessment) is currently available while the bC and i1 assessments will be offered to the market later this year. Any i1 or r2 assessment submitted with a reservation is backed by a service-level guarantee to deliver the assessment report within 45 days.

 

To Learn More:

 

Register for the Webinar

 

Expanded Assessment Portfolio

 

Results Distribution System

 

About HITRUST®

 

Since it was founded in 2007, HITRUST has championed programs that safeguard sensitive information and manage information risk for organizations across all industries and throughout the third-party supply chain. In collaboration with privacy, information security, and risk management leaders from the public and private sectors, HITRUST develops, maintains, and provides broad access to its widely adopted common risk and compliance management frameworks as well as related assessment and assurance methodologies. For more information, visit www.hitrustalliance.net.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005249/en/

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Press Release

Yokogawa Acquires PXiSE, a Developer of High-speed Control Software for Grids and Renewable Energy Assets

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Yokogawa Acquires PXiSE, a Developer of High-speed Control Software for Grids and Renewable Energy Assets

Business Wire India

Yokogawa Electric Corporation (TOKYO:6841) announces it has acquired all of the outstanding shares of PXiSE Energy Solutions LLC., a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. Through this acquisition, Yokogawa will build on its capabilities in the monitoring and control of power generation facilities and assist customers in the power transmission and distribution sectors to meet their clean energy goals.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211201005473/en/

 

Integration of DERs and grid components through automated grid control (Graphic: Yokogawa Electric Corporation)

Renewable energy sources such as wind and solar PV are crucial for reducing greenhouse gas emissions, however the power generated is unpredictable as they are affected by the weather conditions. It also requires a much larger number of units distributed over a wider area to generate the same amount of power as a conventional power station. In addition, energy consumers themselves are becoming energy resources as they install solar power and battery storage systems. These factors are altering the very nature of the grid that utilities manage.

 

PXiSE (pronounced “pice”) was started in 2016 based on the idea that real-time data from the grid combined with artificial intelligence could be leveraged to help utilities manage the rapidly increasing number of distributed energy resources that are coming online every year. Since proving this concept, the company has delivered more than one gigawatt of projects in the US, Asia, and Oceania, helping clients achieve both their grid management and emission goals. Prior to the acquisition, the company was a subsidiary of Sempra, a US-based energy infrastructure company, and was partially owned by a subsidiary of Mitsui & Co., Ltd.

 

PXiSE’s Active Control Technology (ACT) is an automated grid control software platform that consists of hybrid power plant controls, microgrid controls, and a distributed energy resource management system, achieving holistic system optimization by enabling the integration of groups of DERs alongside traditional grid components. It can also maximize the efficiency and production of utility-scale renewable energy assets. The patented ACT delivers higher reliability than conventional power system monitoring and control systems due to its high-speed measurement and control, which enable seamless energy source transitions. Integration of external data sets and predictive forecasting support cost and profit optimization.

 

In the power sector, Yokogawa has decades of experience in delivering and optimizing control systems for conventional power plants around the world, and Yokogawa’s controllers and industrial IoT software platforms support renewable power generation facilities as well as energy management systems for buildings, factories, and communities. The addition of PXiSE to the Yokogawa Group will enable the company to help global customers involved in power transmission and distribution to better manage the increasingly diversified energy supply chain, maximize the deployment of renewable energy assets, and ultimately deliver affordable, reliable, and sustainable forms of energy.

 

“We’re thrilled to be joining Yokogawa Electric Corporation, whose deep expertise in power plant and industrial control systems is a natural complement to our innovative grid controls technology. Combined, Yokogawa and PXiSE expertise provides tremendous value creation for customers, the energy industry, and society,” said Patrick Lee, CEO and cofounder of PXiSE Energy Solutions. “Our market growth will be greatly strengthened thanks to Yokogawa’s global engineering, sales, service, and support network, and Yokogawa will be able to accelerate their expansion into the power delivery and distribution end-use sectors. Together, we look forward to becoming worldwide renewable energy leaders, enabling the clean energy transition.”

 

“Yokogawa believes that the decarbonization trend in the energy sector is one of the biggest challenges society has ever faced,” said Koji Nakaoka, vice president and head of the Energy & Sustainability Business Headquarters and the Global Sales Headquarters at Yokogawa Electric. “PXiSE’s highly innovative technologies address many of the issues related to the optimal production and integration of renewable and other energy sources, so we are extremely excited to welcome them to the Yokogawa Group. We look forward to being able to make this outstanding technology available to our customers around the world as soon as possible.”

 

Outline of PXiSE Energy Solutions LLC.

 

Location: San Diego, California, USA
Founded: December 2016
Main business: Development and implementation of software solutions for a renewable and distributed electric grid

 

About Yokogawa

 

Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations.
Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,500 employees in a global network of 119 companies spanning 61 countries.
For more information, visit www.yokogawa.com

 

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005473/en/

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Press Release

NetApp Delivers Award-Winning Innovation to Enable Digital Transformation on AWS

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NetApp Delivers Award-Winning Innovation to Enable Digital Transformation on AWS

Business Wire India

NetApp® (NASDAQ: NTAP), a global, cloud-led, data-centric software company, today announced new innovations in its product portfolio as well as award recognition from Amazon Web Services (AWS) for its achievements as an AWS Partner. Together, these announcements demonstrate how NetApp’s investments and vision are enabling any organization using AWS to access world-class cloud operations (CloudOps) and maximize the value of their investment.

 

At AWS re:Invent this week, NetApp was named the 2021 AWS Independent Software Vendor (ISV) Design Partner of the Year – US, for the jointly engineered and natively integrated Amazon FSx for NetApp ONTAP service. This fully-managed, multi-protocol storage service from AWS allows organizations to extend on-premises data onto AWS for enhanced data protection, migrate enterprise workloads without refactoring, and set the stage to run stateful Kubernetes applications. The award recognizes NetApp’s work in helping customers enable innovation and build solutions that drive digital and cloud transformation on the AWS Cloud.

 

“AWS Partners are critical to our customers’ success, and we are pleased to recognize NetApp as a 2021 AWS Partner of the Year US winner,” said Rachel Mushahwar, Head of Channel and Partner Sales – Americas, AWS. “I continue to be impressed by the commitment and innovation that NetApp offers our customers and how they are uniquely positioned to help accelerate our customers’ digital transformation journey. I look forward to working together and a great 2022.”

 

“We are proud to be named the AWS ISV Design Partner of the Year in the US,” said Anthony Lye, Executive Vice President and General Manager of Public Cloud Services at NetApp. “For nearly a decade, NetApp and AWS engineers have worked together to create industry-leading cloud services, so it’s incredibly exciting to see our joint innovation be recognized onstage at this year’s re:Invent. Together, NetApp and AWS are delivering the best of cloud to our customers and partners to deliver immediate business value, whether in the form of cost efficiency, compliance, data protection, or performance.”

 

NetApp also announced important milestones in the growth of its Spot by NetApp product portfolio for CloudOps, including:

 

Spot Ocean for Apache Spark
Part of the Spot Ocean suite of products, Spot Ocean for Apache Spark combines the infrastructure automation and optimization of Spot Wave together with Data Mechanics, recently acquired by NetApp, to give data infrastructure teams the power and flexibility of Apache Spark on Kubernetes without the complexity of managing and tuning infrastructure and workloads. Ocean for Apache Spark is now available in preview for AWS customers.

 

Spot Ocean Continuous Delivery (CD)
Also, part of the Spot Ocean suite, Spot Ocean CD extends Spot by NetApp’s core technologies with a solution for easy, reliable delivery of cloud-native applications on Kubernetes. Available for private preview with AWS customers in mid-December, Spot Ocean CD makes it easy to quickly and reliably execute deployments with integrated and automated continuous verification to give developers full confidence in their deployments.

 

Together with Spot Ocean serverless infrastructure, these products make up the expanded Spot Ocean suite, bringing intelligent automation and optimization to cloud-native infrastructure and workloads on Kubernetes.

 

CloudCheckr Well-Architected Readiness Advisor
CloudCheckr, recently acquired by NetApp, complements the Spot product portfolio to expand Spot by NetApp’s financial operations (FinOps) capabilities. Spot by NetApp today announced the release of CloudCheckr Well-Architected Readiness Advisor, which helps managed service providers (MSPs) streamline the process of delivering AWS Well-Architected Reviews and helps to ensure that AWS customers are in compliance with the AWS Well-Architected Framework for optimization of cloud cost, security, operations, performance and reliability.

 

The Well-Architected Readiness Advisor is available on the CloudCheckr CMx platform.

 

Spot Security
Spot Security enables customers to quickly detect, prioritize and help mitigate the most serious security threats and risks within cloud infrastructure. Spot Security is now available in private preview, starting with AWS customers.

 

“Getting applications to the cloud is only the first step in the cloud journey,” said Amiram Shachar, Vice President and General Manager of Spot by NetApp. “Realizing the promise of cloud requires a holistic approach to operating within the cloud, an approach that addresses cost, resource management, optimization and security. Our growing portfolio delivers a compelling suite of solutions for cloud operations that let organizations focus on their applications rather than on infrastructure.”

 

Additional Resources:

 

Spot Ocean Suite Blog
Spot Ocean for Apache Spark Blog
CloudCheckr Well-Architected Readiness Advisor Blog
 

About NetApp
NetApp is a global, cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services and applications to the right people—anytime, anywhere. Learn more at www.netapp.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

 

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TMare trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005381/en/

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Press Release

Jetcraft Releases 5-year Pre-Owned Market Forecast Exploring New Era for Business Aviation

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Jetcraft Releases 5-year Pre-Owned Market Forecast Exploring New Era for Business Aviation

Business Wire India

Jetcraft, the world leader in business jet sales and acquisitions, is releasing its 5-Year Pre-Owned Business Aviation Market Forecast, introducing an enhanced data-driven methodology recognizing potential market opportunities and incorporating a greater number of global trends.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211201005802/en/

 

Jetcraft’s Owner and Chairman of the Board, Jahid Fazal-Karim (Photo: Business Wire)

Jetcraft’s 2021 Market Forecast predicts pre-owned aircraft transaction volume and value will maintain their current healthy growth rates, reaching 2,647 transactions valued at $12.4B annually by 2025.

 

Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, says: “Since the pandemic, the true benefits of business aviation have been realized, particularly by new entrants who have had the means to fly privately but never previously the inclination, and we have seen our industry thrive.

 

“The combination of limited commercial airline services, plus expanding offerings within business aviation, presents the sector with a real opportunity to further broaden its customer base and secure long-term prosperity, and we have highlighted some of these areas in our forecast. We are also predicting the industry will maintain its post-pandemic momentum and expect to see 12,261 pre-owned transactions worth $57.2B in value over the next five years.”

 

This year’s analysis introduces an updated methodology as well as insights into key drivers reflecting pre-owned market growth, which incorporates global trends data and market opportunities.

 

Fazal-Karim continues: “Manufacturer backlogs and wait times for new aircraft are rising. This factor, paired with a growing buyer pool, means many will be compelled to turn to pre-owned aircraft to meet their needs.

 

“Our forecast finds that regional drivers, such as Wealth Levels and Flying Hours, represent the main reasons behind ownership in North America, Asia-Pacific and Europe, and these continents also retain the highest UHNWI populations. So, with the projected growth in wealth converging with increased use in business jet solutions, we expect to see the road to ownership accelerate among many users, which is an exciting prospect.”

 

Despite record industry demand, Jetcraft expects market values to remain rational. The current market strength is predicted to last until late 2022, with average transaction value set to grow marginally until 2024, partly due to an increase in Large Jet sales which command higher prices. Depreciation rates are expected to return to normal by 2025.

 

Fazal-Karim concludes: “The evolution of business aviation post-pandemic is a demonstration of the industry’s resilience and growing appeal. I’m especially proud to be sharing our annual industry outlook this year.”

 

Jetcraft’s complete 2021 5-Year Pre-Owned Business Aviation Market Forecast is available to view at jetcraft.com/market-forecast-2021

 

ENDS

 

Report graphs, high-resolution images and interviews are available on request.

 

About Jetcraft

 

Jetcraft is the leader in international aircraft sales, marketing and ownership strategies, managing and maintaining over 20 regional offices globally. The company’s unparalleled success over nearly 60 years in business aviation has earned it a world-class reputation, along with an exceptional customer base, a wide network of connections and one of the largest inventories within the industry.

 

For more information, please visit www.jetcraft.com

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005802/en/

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